TORONTO, July 4, 2016 – As of June 30, 2016, RBC Global Asset Management Inc. (RBC GAM Inc.) implemented significant fee reductions across its diverse lineup of mutual funds. These changes, which were previously announced in February 2016, reduced management fees on 85 funds by up to 0.15 per cent. RBC GAM Inc. now offers its lowest-fee pricing option to all Canadian retail investors, from the first dollar they invest without minimums or complicated paperwork. Based on current assets in RBC mutual funds, these changes are expected to result in $25 million in annual savings for clients.
"Along with performance, fees are one of the key considerations for mutual fund investors. At RBC Global Asset Management, we believe mutual fund fees should be up-front, easy to understand and most importantly low," said Doug Coulter, president of RBC GAM Inc. "We are excited to implement these changes and to continue to earn our clients' confidence and trust by offering award-winning investment management and fees that are low and easy to understand."
RBC GAM Inc. believes in providing transparency in mutual fund fees and that our clients should know exactly what they are paying for. Designed to provide an in-depth understanding of fee breakdowns, RBC GAM Inc. has launched the microsite Simply Lower. The site includes various educational tools that explain concepts such as management expense ratios and how to understand your returns, as well as comparison charts and easy to understand guides for all our clients' investment needs.
For more information, please visit: www.rbcgam.com/simplylower/.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes 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 $370 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.