TORONTO, July 26, 2017 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) announced that effective today the Phillips, Hager & North Short Term Bond & Mortgage Fund (the Fund) will re-open to new investors.
Each investment team at RBC Global Asset Management continually evaluates the market and other conditions relevant to their respective mandates. The Fund was capped to new investors on July 4, 2016 to manage inflows. The managers of the Fund have since determined that capacity in the short-term bond market makes it possible to re-open the Fund for purchases by new investors. RBC GAM Inc. reserves the right to cap the Fund or otherwise restrict investment at a later date.
The Fund seeks to provide relatively high yields and stability of capital by investing primarily in a well-diversified portfolio of short-term fixed income securities issued by Canadian governments and corporations, and first mortgages on property located in Canada.
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, PH&N Funds and BlueBay Funds are offered by RBC GAM Inc. and distributed through authorized dealers.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes RBC GAM Inc. and 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 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 $390 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498, [email protected]