News Release

RBC Global Asset Management Inc. Launches New Corporate Class Structure

TORONTO, January 16, 2012 — RBC Global Asset Management Inc. (RBC GAM) today announced that Canadian investors can now access select RBC Funds and PH&N Funds through the new corporate class structure of RBC Corporate Class Funds.

“We are pleased to offer advisors and investors access to our award-winning family of funds with the added benefits of corporate class,” said Doug Coulter, President of RBC Global Asset Management Inc. “The new suite of RBC Corporate Class Funds provide advisors with enhanced flexibility to build tax-efficient portfolios for their clients. These funds are also among the few corporate class offerings available direct to investors through Series D.”

Corporate class funds are tax-efficient investment solutions, ideal for non-registered plans. RBC Corporate Class Funds include a selection of fixed income and equity funds that provide investors with tax-free switching and rebalancing, reduced taxable distributions and a method of tax-efficient bond investing.

RBC Corporate Class Funds are available to individual investors through four low fee options: Series A, Advisor Series and Series F (available via financial advisors), and Series D (available via direct-to-client platforms such as PH&N Investment Services and RBC Direct Investing). The funds are also available to institutional investors through Series O.

The management fees for the corporate class series that are available to individual investors are outlined in the table below.

FUND MANAGEMENT FEES (%)
SERIES A ADVISOR SERIES F SERIES D
RBC Short Term Income Class up to 0.75 up to 0.75 up to 0.50 up to 0.50
PH&N Total Return Bond Capital Class 1.00 1.00 0.50 0.50
RBC High Yield Bond Capital Class 1.25 1.25 0.75 0.90
RBC Canadian Dividend Class 1.50 1.50 0.75 1.00
RBC Canadian Equity Class 1.75 1.75 0.75 1.00
RBC Canadian Equity Income Class 1.75 1.75 0.75 1.00
RBC Canadian Mid Cap Equity Class 1.75 1.75 0.75 1.00
RBC North American Value Class 1.75 1.75 0.75 1.00
RBC U.S. Equity Class 1.75 1.75 0.75 1.00
PH&N U.S. Multi-Style All-Cap Equity Class 1.75 1.75 0.75 1.00
PH&N Overseas Equity Class 1.85 1.85 0.85 1.10
RBC Emerging Markets Equity Class 1.85 1.85 0.75 1.00
RBC Global Resources Class 1.85 1.85 0.75 1.00

RBC Corporate Class Funds are offered by RBC Global Asset Management Inc. and distributed through authorized dealers. 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.

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 approximately $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 is one of the world’s top 10 largest wealth managers. RBC Wealth Management directly serves affluent, high-net-worth and ultra high-net-worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$525 billion of assets under administration, more than C$305 billion of assets under management and approximately 4,300 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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