News Release

RBC Global Asset Management Inc. Announces Fund Name Changes to Enhance Transparency for Investors

TORONTO, June 24, 2011 — RBC Global Asset Management Inc. today announced that as of Wednesday, June 29, 2011, the following funds will change their names as follows:

Old Name New Name
RBC Canadian Bond Index Fund RBC Canadian Government Bond Index Fund
RBC Global High Yield Fund RBC Global High Yield Bond Fund
RBC Balanced Growth Fund RBC Global Balanced Fund
RBC Emerging Markets Fund RBC Emerging Markets Equity Fund

These are name changes only. The investment objectives and strategies of the funds have not changed. The new names more clearly reflect the types of investments the funds hold. The changes are effective Wednesday, June 29, 2011, upon the renewal of the RBC Funds 2011 Simplified Prospectus.

About RBC Global Asset Management and RBC Wealth Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) which includes institutional money managers Phillips, Hager & North Investment Management (PH&N), RBC Global Asset Management (U.S.) and BlueBay Asset Management. RBC GAM is a provider of global investment management services and solutions to individual, high net worth and institutional investors through mutual funds, pooled funds, hedge funds, segregated accounts and specialty investment strategies. RBC GAM group of companies manage more than $250 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.

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 over $535 billion of assets under administration, over $300 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.

MEDIA ENQUIRIES

Leah Commisso
Corporate Communications
RBC Global Asset Management
Canada and U.S.
416-955-6498
leah.commisso@rbc.com
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