RBC Global Asset Management Inc. announces capping of Advisor Series as well as changes to Series H and I of certain BlueBay Funds
TORONTO, June 22, 2020 — RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced that effective June 26, 2020, Advisor Series and Advisor T5 Series units and mutual fund shares of RBC Funds, BlueBay Funds, PH&N Funds and RBC Corporate Class Funds, as applicable, will be capped. Purchases made through pre-authorized contribution plans established before June 26, 2020 will be permitted until August 4, 2020.
Additionally, all initial sales charge (“ISC”) and low-load (“LL”) sales charge options for Advisor Series and Advisor T5 Series units and mutual fund shares will be re-designated to the corresponding Series A or Series T5 units or mutual fund shares, as applicable, on August 4, 2020. Redemption fees will be waived on all LL options for Advisor Series and Advisor T5 Series units and mutual fund shares when they are re-designated to Series A or Series T5. Advisor Series and Advisor T5 Series units of the RBC Funds and BlueBay Funds with a deferred sales charge (“DSC”) option will remain capped and invested based on their existing redemption schedules.
Changes to Series H and I of certain BlueBay Funds
Series H and Series I units and mutual fund shares of BlueBay Global Convertible Bond Fund (Canada), BlueBay Global Monthly Income Bond Fund and BlueBay Global Convertible Bond Class (Canada) will be re-designated to the corresponding Series A or Series F units or mutual fund shares effective June 26, 2020.
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 Corporate Class Funds 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 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 $480 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.