TORONTO, July 19, 2010 - RBC Global Asset Management (RBC GAM) today announced the launch of PH&N U.S. Multi-Style All-Cap Equity Fund, the first RBC GAM fund to bring the U.S. equity expertise of RBC Global Asset Management (U.S.) Inc. to individual investors in Canada.
"This fund draws on the strength of our investment management capabilities in Canada and the U.S., bringing together the time-tested expertise of our U.S. equity teams in one core investment," said John Montalbano, CEO of RBC Global Asset Management. "Initially designed as an institutional solution, the fund will also benefit individual investors seeking U.S. exposure through a diversified, multi-strategy U.S. equity fund."
The PH&N U.S. Multi-Style All-Cap Equity Fund is designed to provide long-term capital growth and comprises five distinct strategies:
Ray Mawhinney, senior vice-president, U.S. and Global Equities at RBC Asset Management Inc., will manage the large-cap growth and mid-cap growth strategies. From RBC Global Asset Management (U.S.) Inc., Stephen Kylander, vice-president and senior portfolio manager, will manage the mid-cap value strategy; Michael Spencer, vice-president and senior portfolio manager, will manage the large-cap value strategy; and Lance James, managing director and senior portfolio manager, will manage the small-cap core strategy.
The PH&N U.S. Multi-Style All-Cap Equity Fund is available to institutional investors through Series O and to individual investors through three low-cost fee options: Series D (available for clients who invest directly through PH&N Investment Services and discount brokerages, including RBC Direct Investing) and Series C and F (available through financial advisors).
The management fee for the three series available to individual investors is outlined in the table below.
|PH&N U.S. Multi-Style All-Cap Equity Fund - Management Fee|
Please read the prospectus 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 Global Asset Management (RBC GAM) comprises RBC Asset Management Inc. (RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) and RBC Global Asset Management (U.S.) Inc. John Montalbano is CEO of RBC AM and PH&N. RBC GAM group of companies manage approximately $200 billion in assets, including over $100 billion in IFIC-reported mutual fund assets in Canada. PH&N won the Lipper Awards for "Best Overall Fund Group" in 2010 and "Best Bond Fund Family" in 2007, 2008 and 2010; RBC AM won the Lipper Awards for "Best Bond Fund Family" in 2009 and "Best Overall Fund Group" in 2007 and 2008. Website: www.rbcgam.com.
RBC Global Asset Management is part of RBC Wealth Management which directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia. RBC Wealth Management provides integrated and diversified international wealth management expertise and solutions, asset management and trust services to high net worth individuals and to corporate and institutional clients. Services provided by RBC Wealth Management consultants, advisors, private bankers and trust officers include trust and estate planning, tax advice, discretionary investment management and investment advisory services, structured solutions, banking, lending and global custody. RBC Wealth Management has more than $490 billion of assets under administration, nearly $240 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.