TORONTO, June 24, 2015 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced changes to the risk ratings of three RBC funds. These changes will be reflected in the renewal of the simplified prospectus of the RBC Funds and RBC Private Pools, which is scheduled to be filed on or about June 24, 2015.
RBC GAM Inc. follows a risk classification methodology based on the approach recommended by the Investment Funds Institute of Canada. Each fund's risk rating is reviewed on an annual basis, or when the fund undergoes a material change. The changes announced today are the result of an annual review. No material changes have been made to the investment objectives, strategies or management of the affected funds.
|FUND||CURRENT RATING||NEW RATING|
|RBC O'Shaughnessy U.S. Growth Fund||Medium to High||High|
|RBC O'Shaughnessy U.S. Growth Fund II||Medium to High||High|
|RBC Private O'Shaughnessy U.S. Growth Equity Pool||Medium to High|| High
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), and includes institutional money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $380 billion and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC Wealth Management directly serves affluent, high-net-worth and ultra-high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. 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 GAM business. RBC Wealth Management has more than C$747 billion of assets under administration, more than C$481 billion of assets under management and approximately 4,100 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.
For further information:
Leah Commisso, RBC GAM Corporate Communications, 416-955-6498