TEESX (RBC Smallcap Core S) and TETSX (RBC Enterprise S) are two funds I have tracked forever. They used to be Babson funds, then became Tamarack funds, and eventually were acquired by Royal Bank of Canada. A couple weeks ago those ticker symbols were dropped by Morningstar.com and Yahoo Finance, so now I can't track them anymore. I talked with RBC but they seem unacquainted with US-based mutual fund ticker symbols. Does anyone know what happened with these funds? Were they merged away? Thx!
Comments
David
Excerpt from hyperlink above:
The Board of Trustees of RBC Funds Trust has also approved the closure of Class S Shares of each RBC Equity Fund. In connection with such closure, the Board has authorized the conversion of Class S Shares of the RBC SMID Cap Growth Fund and RBC Enterprise Fund into Class I Shares of such funds as well as the redesignation of Class S shares of the RBC Small Cap Core Fund and RBC Microcap Value Fund (which do not currently have Class I Shares) as Class I Shares of such funds. As a result of these changes (referred to herein as the “Redesignation”), holders of Class S Shares will automatically become holders of Class I Shares which have the same fee and expense structure with an aggregate net asset value equal to the value of the Class S Shares previously held.
No redemption fees or sales charges will be applied in connection with the Redesignation of Class S Shares as Class I Shares. The Redesignation will allow Class S shareholders to continue to bear the same expense structure associated with Class S Shares because the expense structure of the Class I Shares of the RBC SMID Cap Growth Fund and RBC Enterprise Fund is the same as that associated with the Class S Shares of those Equity Funds, and the expense structure of the Class I shares of the RBC Small Cap Core Fund and RBC Microcap Value Fund (which do not currently have Class I Shares) will be the same as that associated with the Class S Shares of those Equity Funds. For more information on the fees and expenses of the Class I Shares of the RBC SMID Cap Growth Fund and RBC Enterprise Fund, please see the Fees and Expenses section on pages 6 and 12 of the Prospectus. The information on the fees and expenses of the Class I shares of the RBC Small Cap Core Fund and RBC Microcap Value Fund will be the same as the information on the fees and expenses of the Class S Shares of such funds on pages 17 and 21 of the Prospectus.
The Redesignation is expected to occur on or before November 27, 2012 (the “Redesignation Date”). Effective immediately, Class S Shares of the RBC SMID Cap Growth Fund and RBC Enterprise Fund will be closed to new investors. Class S Shares of the RBC Small Cap Core Fund and RBC Microcap Value Fund will continue to be available until the Redesignation Date. Existing shareholders may continue to purchase and redeem Class S Shares and will continue to receive dividends and distributions in additional Class S Shares (unless they have elected to receive dividends and distributions in cash) until the close of business on the Redesignation Date.