Company Announcements

RBC Global Asset Management Inc. announces changes to RBC Private Canadian Mid-Cap Equity Pool and Phillips, Hager & North Small Float Fund

TORONTO, June 28, 2021 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced changes to RBC Private Canadian Mid-Cap Equity Pool (the "Pool") and Phillips, Hager & North Small Float Fund (the "Fund").

Renaming of RBC Private Canadian Mid-Cap Equity Pool plus re-designation and capping of Series F units
Effective June 30, 2021, the name of the Pool will be changed to RBC Canadian Mid-Cap Equity Fund. There will be no changes to the investment objectives or investment strategies of the Pool. Furthermore, Series F units of the Pool will be re-designated to Series I units and will be capped to new investors.

Fee changes for Series F units of Phillips, Hager & North Small Float Fund
Effective September 1, 2021, the management fee and the administration fee for the Fund will be changed as follows:


Current

Effective September 1, 2021

Management Fee

1.00%

0.75%

Administration Fee

0.00%

0.10%

Management
Expense Ratio

1.10%

0.93 *%

* This is an estimate and represents what the 2020 reported MER would have been had the fee changes been in effect throughout 2020

The Fund's management expense ratio comprises the Fund's management fee and administration fee, plus applicable taxes. Administration fees are used to pay for the following operating expenses of a fund: regulatory filing fees, fees and expenses associated with the Independent Review Committee, recordkeeping, accounting and fund valuation costs, custody fees, audit and legal fees, the costs of preparing and distributing annual and semi-annual reports, prospectuses, fund facts, statements and other investor communications.

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, PH&N Funds and RBC Private Pools are offered by RBC GAM Inc. and distributed through authorized dealers in Canada. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

About RBC Global Asset Management
RBC Global Asset Management  (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes 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 approximately $550 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management Inc.

image