RBC Offers New Lower-Priced Options for Do-It-Yourself Investors

RBC Financial Group’s online investing business RBC Direct Investing is offering new lower-priced options to lure more do-it-yourself investors in Canada.   Over 40 funds will be available solely at RBC Direct Investing as new Series D units, according to a preliminary prospectus filed by RBC yesterday.   The units will be geared toward investors who want to include managed money as part of their portfolios, but perform investment research and make decisions themselves.   The management fees will range from 60 basis points to 1.25% and have a minimum requirement of $10,000 in each fund. The units will be available July 3.   “We’re excited to be at the forefront of this new move in self-directed investing” said Doug Coulter, president and CEO of RBC Direct Investing. “This pricing option should make RBC Funds even more attractive for investors who choose to manage their own portfolios.”   The offer represents the first mutual fund fee structure in Canada from a major fund company that is tailor-made for the self-directed investor.