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by  PH&N Institutional Dec 1, 2021

The current environment of ultra-low interest rates and very modest domestic bond yields has many investors considering alternatives to the traditional asset allocation approach. As a result, investment in multi-asset credit (MAC) solutions has been growing. The flexibility and dynamic asset allocation that MAC strategies employ help to provide effective tools to navigate uncertain markets and to pursue higher yields, thus more effectively meeting the needs of today’s investor.

The following paper aims to define the characteristics that make multi-asset credit unique as well as explore the benefits that the inclusion of these strategies can bring to a balanced investment portfolio.

Read the full piece here.

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Disclosure

This document has been provided by PH&N Institutional for information purposes only and may not be reproduced,
distributed or published without the written consent of PH&N Institutional. It is not intended to provide professional
advice and should not be relied upon in that regard.


PH&N Institutional takes reasonable steps to provide up-to-date, accurate and reliable information, and believes the
information to be so when printed. The views and opinions expressed herein are those of PH&N Institutional as of the
publication date and are subject to change without notice. This information is not intended to be an offer or solicitation
to buy or sell securities or to participate in or subscribe for any service.


Information obtained from third parties is believed to be reliable, but no representation or warranty, express or implied,
is made by PH&N Institutional, its affiliates or any other person as to its accuracy, completeness or correctness. We
assume no responsibility for any errors or omissions in such information.


These materials contain statements that are not purely historical in nature, but are “forward-looking statements.”
These include, among other things, projections, hypothetical performance analyses, hypothetical analyses of income,
yield or return, future performance targets, sample or pro forma portfolio structures or portfolio composition, scenario
analyses, specific investment strategies and proposed or pro forma levels of diversification or sector investment.
These forward-looking statements are based upon certain assumptions and involve significant elements of subjective
judgment and analysis. No representation is made that any returns indicated will be achieved or that all assumptions
have been considered or stated. Actual events are difficult to predict and are beyond our control. Hence, actual events
may differ materially from those assumed. All forward-looking statements included are based on information available
on the date hereof and we do not assume any duty to update any forward-looking statement. Some important factors
which could cause actual results to differ materially from those in any forward-looking statements include, without
limitation, changes in general economic, market, legal and financial conditions. Accordingly, there can be no assurance
that hypothetical returns or projections can be realized, that forward-looking statements will materialize or that actual
returns or results will not be materially different than those presented.


PH&N Institutional is the institutional business division of RBC Global Asset Management Inc. (RBC GAM Inc.). Phillips,
Hager & North Investment Management is a division of RBC GAM Inc.


RBC Global Asset Management is the asset management division of Royal Bank of Canada (RBC) which includes
RBC GAM Inc., RBC Global Asset Management (U.S.) Inc., RBC Global Asset Management (UK) Limited, RBC Global Asset
Management (Asia) Limited, and BlueBay Asset Management LLP, which are separate, but affiliated subsidiaries of RBC.


®/™ Trademark(s) of Royal Bank of Canada. Used under licence.

© RBC Global Asset Management Inc., 2021.

November 8, 2021