RBC Global Asset Management Inc. announces changes to RBC Private Canadian Growth Equity Pool Français
Feb 18, 2020, 16:15 ET
TORONTO, Feb. 18, 2020 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced that it has terminated its sub-advisory relationship with Guardian Capital LP, the sub-advisor to RBC Private Canadian Growth Equity Pool (the Pool), effective March 16, 2020. RBC GAM Inc. will assume portfolio management responsibilities for the Pool as of this date.
RBC GAM Inc. also announced that in order to reduce duplication of fund offerings that have the same or substantially similar investment objectives across its fund families, the Pool and Phillips, Hager & North Canadian Equity Fund (the PH&N Fund) will merge effective April 30, 2020.
Unitholders of the Pool, the terminating fund, will receive an equivalent series of units of the PH&N Fund, the continuing fund, on a dollar-for-dollar and tax-deferred basis. The Pool will be wound down following the merger.
The Independent Review Committee of RBC Private Pools and PH&N Funds considered and approved the proposed merger, after determining that the merger achieves a fair and reasonable result for the Pool.
Unitholders of the Pool will be sent a written notice detailing changes related to the merger at least 60 days prior to the effective date. Unitholders will have a right to redeem units of the Pool up to the close of business on the business day immediately preceding the effective date.
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, RBC Private Pools, BlueBay Funds and PH&N Funds are offered by RBC GAM Inc. and distributed through authorized dealers. 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 $460 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 85,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
SOURCE RBC Global Asset Management
For further information: Brandon Dorey, RBC GAM Corporate Communications, 416-955-7397, [email protected]
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