Self-directed investors using RBC Direct Investing now have increased access to Series D mutual funds tailored to their needs through substantially lower fund investment minimums, which have dropped to $500 from $10,000.
Initially offered by RBC Direct Investing and RBC Global Asset Management in 2007, Series D was the first mutual fund series in Canada developed specifically for the self-directed investor. Series D provides self-directed investors with lower pricing for conducting their own research and making their own investment decisions.
Series D has lower management expense ratios (MERs); for example, the 2012 industry average MER for a Canadian Dividend & Income Equity Fund was 2.08 per cent, while the MER for Series D units of RBC Canadian Dividend Fund was 1.22 per cent.
As the appeal of self-directed investing has increased, Series D is being adjusted so that self-directed investors with smaller balances can gain access to professional money management at non-advice channel pricing.
Investment minimums have now been lowered to $500 per fund, per account from the previous $10,000 minimum for Series D RBC Funds and BlueBay Funds (and lowered from the previous $5,000 minimum for Series D PH&N Funds).
Available on over 100 RBC Funds, BlueBay Funds, and PH&N Funds, Series D is aimed at self-directed investors who want to invest in actively managed funds and enjoy the cost savings associated with making their own decisions.
RBC Direct Investing is a wholly owned subsidiary of Royal Bank of Canada.