TORONTO, June 22, 2017 /CNW/ - RBC Global Asset Management
Inc. ("RBC GAM Inc.") today announced the unitholder approval of
changes to the investment objectives of seven RBC Funds, the
reduction of management fees and administration fees on a number of
fund series and the transition of portfolio management
responsibilities for the RBC Emerging Markets Bond Fund from RBC
Global Asset Management (UK) Limited ("RBC GAM UK") to RBC GAM
Inc.
Details of the changes are as follows:
Changes to Investment Objectives
RBC Advisor Canadian Bond Fund Unitholders approved an
amendment to the fund's investment objectives that provides the
fund with the flexibility to track the performance of its benchmark
index by investing either directly in fixed-income securities or
indirectly through investment in units of other mutual funds
managed by RBC GAM Inc. or an affiliate. Effective June 30, 2017, the name of the fund will change
to RBC Canadian Bond Index Fund.
Effective on or about September 15,
2017, the fund's benchmark will change to FTSE TMX Canada
Universe + Maple Bond Index and the fund will invest up to 100% of
its assets in the RBC Canadian Bond Index ETF.
RBC Canadian Government Bond Index Fund Unitholders
approved an amendment to the fund's investment objectives that
provides the fund with the flexibility to track the performance of
its benchmark index by investing either directly in fixed-income
securities or indirectly through investment in units of other
mutual funds managed by RBC GAM Inc. or an affiliate.
RBC Canadian Index Fund Unitholders approved an amendment
to the fund's investment objectives that provides the fund with the
flexibility to track the performance of its benchmark index by
investing either directly in equity securities or indirectly
through investment in units of other mutual funds managed by RBC
GAM Inc. or an affiliate.
Effective on or about September 15,
2017, the fund's benchmark will change to FTSE Canada All
Cap Domestic Index.
RBC U.S. Index Fund Unitholders approved an amendment to
the fund's investment objectives that provides the fund with the
flexibility to track the performance of its benchmark index by
investing either directly in equity securities or indirectly
through investment in units of other mutual funds managed by RBC
GAM Inc. or an affiliate.
Effective on or about September 15,
2017, the fund's benchmark will change to FTSE USA Index.
RBC U.S. Index Currency Neutral Fund Unitholders approved
an amendment to the fund's investment objectives that provides the
fund with the flexibility to track the performance of its benchmark
index by investing either directly in equity securities or
indirectly through investment in units of other mutual funds
managed by RBC GAM Inc. or an affiliate.
Effective on or about September 15,
2017, the fund's benchmark will change to FTSE USA Hedged 100% to CAD Index and the fund will
invest up to 100% of its assets in the RBC U.S. Equity Index
ETF.
RBC International Index Currency Neutral Fund Unitholders
approved an amendment to the fund's investment objectives that
provides the fund with the flexibility to track the performance of
its benchmark index by investing either directly in equity
securities or indirectly through investment in units of other
mutual funds managed by RBC GAM Inc. or an affiliate.
Effective on or about September 15,
2017, the fund's benchmark will change to FTSE Developed ex
North America Hedged 100% to CAD Index and the fund will invest up
to 100% of its assets in the RBC International Equity Index
ETF.
RBC Jantzi Balanced Fund Unitholders approved an
amendment to the fund's investment objectives to provide the fund
with the flexibility to invest its assets primarily in units of
other funds that are managed by RBC GAM Inc. or an affiliate.
Effective June 30, 2017, the name of
the fund will change to RBC Vision Balanced Fund.
Reductions to Management and Administration Fees
Management
Fee
|
Series
|
Current
|
Effective
June 30, 2017
|
RBC Advisor Canadian
Bond Fund
|
Advisor
|
0.80%
|
0.60%
|
RBC Advisor Canadian
Bond Fund
|
F
|
0.50%
|
0.10%
|
RBC Canadian
Government Bond Index Fund
|
F
|
0.40%
|
0.20%
|
RBC Canadian Index
Fund
|
F
|
0.40%
|
0.05%
|
RBC U.S. Index
Fund
|
F
|
0.40%
|
0.09%
|
RBC U.S. Index
Currency Neutral Fund
|
F
|
0.40%
|
0.09%
|
RBC International
Index Currency Neutral Fund
|
F
|
0.40%
|
0.20%
|
Administration
Fee
|
Series
|
Current
|
Effective
June 30, 2017
|
RBC Canadian
Government Bond Index Fund
|
A
|
0.10%
|
0.05%
|
RBC Canadian Index
Fund
|
A
|
0.15%
|
0.10%
|
RBC U.S. Index
Fund
|
A
|
0.15%
|
0.10%
|
RBC U.S. Index
Currency Neutral Fund
|
A
|
0.15%
|
0.05%
|
RBC U.S. Index
Currency Neutral Fund
|
F
|
0.10%
|
0.05%
|
RBC International
Index Currency Neutral Fund
|
A
|
0.14%
|
0.05%
|
RBC International
Index Currency Neutral Fund
|
F
|
0.10%
|
0.05%
|
Phillips, Hager &
North Balanced Fund
|
A
|
0.08%
|
0.04%
|
Phillips, Hager &
North Balanced Fund
|
Advisor
|
0.08%
|
0.04%
|
Phillips, Hager &
North Balanced Fund
|
F
|
0.08%
|
0.04%
|
Sub-advisor Changes
On or about August 1, 2017,
portfolio management responsibilities for RBC Emerging Markets Bond
Fund will transition from RBC GAM UK to RBC GAM Inc.
Please consult your advisor and read the prospectus or Fund
Facts document before investing. There may be commissions, trailing
commissions, management fees and expenses associated with mutual
fund investments. Mutual funds are not guaranteed, their values
change frequently and past performance may not be repeated. RBC
Funds, BlueBay Funds and PH&N Funds are offered by RBC GAM Inc.
and distributed through authorized dealers.
About RBC Global Asset Management
RBC Global Asset
Management (RBC GAM) is the asset management division of Royal Bank
of Canada (RBC) and includes RBC
GAM Inc., RBC GAM UK and institutional money managers BlueBay Asset
Management and Phillips, Hager & North Investment Management.
RBC GAM is a provider of global investment management services and
solutions to institutional, high-net-worth and individual investors
through separate accounts, pooled funds, mutual funds, hedge funds,
exchange-traded funds and specialty investment strategies. The RBC
GAM group of companies manage more than C$400 billion in assets and have approximately
1,400 employees located across Canada, the United
States, Europe and
Asia.
SOURCE RBC Global Asset Management Inc.