12 Jan 2020 TD balanced Index Fund: 50% fixed income and 50% equities; MER A sample balanced index portfolio using RBC index funds is as follows: 11 Apr 2017 In nearly 1,000 emails, employees from RBC, BMO, CIBC, TD and Scotiabank locations across Canada describe the pressures to hit targets RBC, TD threatened with lawsuit over ‘closet indexers' Two of Canada’s largest investment managers are being threatened with a class-action lawsuit that claims investors were overcharged for RBC, TD threatened with class action lawsuit over ‘closet indexers’ The suits claim that the country’s two largest banks overcharged for mutual funds which they claimed were actively managed, but which the plaintiffs claim actually copied benchmark indexes. The lawsuits were filed Tuesday in the Supreme Court of British Columbia. Class actions have been filed in the Supreme Court of British Columbia against RBC Global Asset Management (RBC GAM) and the Royal Trust Company as well as TD Asset Management (TDAM), with respect to two Canadian equity fund products that allegedly engaged in closet indexing. A release from the law firms said RBC GAM and TDAM “received fees for conducting an investment strategy based on active management” when they were allegedly using a “closet indexing” strategy instead, designed to replicate—but not exceed—the performance of the S&P/TSX Composite Index. RBC, TD threatened with lawsuit over ‘closet indexers’ Two of Canada’s largest investment managers are being threatened with a class-action lawsuit that claims investors were overcharged for
12 Jan 2020 TD balanced Index Fund: 50% fixed income and 50% equities; MER A sample balanced index portfolio using RBC index funds is as follows:
12 Jan 2020 TD balanced Index Fund: 50% fixed income and 50% equities; MER A sample balanced index portfolio using RBC index funds is as follows: 11 Apr 2017 In nearly 1,000 emails, employees from RBC, BMO, CIBC, TD and Scotiabank locations across Canada describe the pressures to hit targets RBC, TD threatened with lawsuit over ‘closet indexers' Two of Canada’s largest investment managers are being threatened with a class-action lawsuit that claims investors were overcharged for RBC, TD threatened with class action lawsuit over ‘closet indexers’ The suits claim that the country’s two largest banks overcharged for mutual funds which they claimed were actively managed, but which the plaintiffs claim actually copied benchmark indexes. The lawsuits were filed Tuesday in the Supreme Court of British Columbia. Class actions have been filed in the Supreme Court of British Columbia against RBC Global Asset Management (RBC GAM) and the Royal Trust Company as well as TD Asset Management (TDAM), with respect to two Canadian equity fund products that allegedly engaged in closet indexing. A release from the law firms said RBC GAM and TDAM “received fees for conducting an investment strategy based on active management” when they were allegedly using a “closet indexing” strategy instead, designed to replicate—but not exceed—the performance of the S&P/TSX Composite Index. RBC, TD threatened with lawsuit over ‘closet indexers’ Two of Canada’s largest investment managers are being threatened with a class-action lawsuit that claims investors were overcharged for
Investopedia defines closet indexing as “a strategy used to describe funds that claim to actively purchase investments but wind up with a portfolio not much different from the benchmark.” “The proposed class actions allege that excessive fees paid to RBC and TD over many years have significantly reduced the returns of investors
RBC, TD threatened with lawsuit over ‘closet indexers' Two of Canada’s largest investment managers are being threatened with a class-action lawsuit that claims investors were overcharged for RBC, TD threatened with class action lawsuit over ‘closet indexers’ The suits claim that the country’s two largest banks overcharged for mutual funds which they claimed were actively managed, but which the plaintiffs claim actually copied benchmark indexes. The lawsuits were filed Tuesday in the Supreme Court of British Columbia. Class actions have been filed in the Supreme Court of British Columbia against RBC Global Asset Management (RBC GAM) and the Royal Trust Company as well as TD Asset Management (TDAM), with respect to two Canadian equity fund products that allegedly engaged in closet indexing. A release from the law firms said RBC GAM and TDAM “received fees for conducting an investment strategy based on active management” when they were allegedly using a “closet indexing” strategy instead, designed to replicate—but not exceed—the performance of the S&P/TSX Composite Index. RBC, TD threatened with lawsuit over ‘closet indexers’ Two of Canada’s largest investment managers are being threatened with a class-action lawsuit that claims investors were overcharged for A release from the law firms said RBC GAM and TDAM “received fees for conducting an investment strategy based on active management” when they were allegedly using a “closet indexing” strategy instead, designed to replicate—but not exceed—the performance of the S&P/TSX Composite Index.
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10 Apr 2019 Please have a read of this article from Clare O'Hara of The Globe and Mail RBC, TD threatened with lawsuit over “closet indexers”. The mutual Understand how mutual funds work, the fees associated and potential benefits of investing.
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Investopedia defines closet indexing as “a strategy used to describe funds that claim to actively purchase investments but wind up with a portfolio not much different from the benchmark.” “The proposed class actions allege that excessive fees paid to RBC and TD over many years have significantly reduced the returns of investors These are mutual funds or ETFs that claim to be based on great investment ideas, but whose holdings, when you look under the hood, are just like those of their competitors. This is the type of fund that puts together a Canadian equity mandate with top holdings such as Suncor, TD, RBC, Enbridge and the usual suspects. RBC: ‘In Defense of Active Management’ lest they be shamed as "closet indexers." To differentiate themselves, active managers might take bets on, say, small-cap stocks or international Closet indexers are fairly easy to spot. The most common way to find one is to take the R Squared of the fund. R Squared is a statistical measure that represents the percentage of a fund or security’s movements that can be explained by movements in a benchmark index.