RBC Global Asset Management Inc. announces changes to RBC Canadian Mid-Cap Private Pool and Phillips, Hager & North Small Float Fund

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TORONTO, June 28, 2021 / CNW / – RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced changes to the RBC Private Canadian Mid Cap Equity Pool (the “Pool”) and the Phillips, Hager & North Small Float Fund (the “Fund”).

RBC (CNW Group / RBC Global Asset Management Inc.)

RBC Private Canadian Mid-Cap Equity Pool Name Change and Series F Unit Designation and Capping
Effective June 30, 2021, the name of the Pool will be changed to RBC Canadian Mid-Cap Equity Fund. There will be no change to the investment objectives or investment strategies of the Pool. In addition, the Series F units of the Pool will be renamed to Series I units and will be capped for new investors.

Fee Changes for Series F Units of the Phillips, Hager & North Small Float Fund
Effective September 1, 2021, the management fees and the administration fees of the Fund will be changed as follows:

Current

Effective September 1, 2021

Management fees

1.00%

0.75%

Administration fees

0.00%

0.10%

Management
Expense ratio

1.10%

0.93 *%

* This is an estimate and represents what the reported MER for 2020 would have been had the fee changes been in effect throughout 2020

The management expense ratio of the Fund includes the management fees and administration fees of the Fund, plus applicable taxes. Administration fees are used to pay the following operating expenses of a fund: regulatory filing fees, fees and expenses associated with the independent review committee, bookkeeping, accounting and valuation fees fund, custody fees, audit and legal fees, preparation fees and distribute annual and semi-annual reports, prospectuses, fund facts, statements and other communications to investors.

Please consult your advisor and read the prospectus or fund facts before investing. Commissions, trailing commissions, management fees and expenses may be associated with investing in mutual funds. 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 Private Portfolios 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
Royal Bank of Canada is a global financial institution with a goal-oriented and principle-driven approach to delivering world-class performance. Our success comes from the more than 86,000 employees who use their imaginations and ideas to bring our vision, values ​​and strategy to life so that we can help our customers thrive and communities thrive. As from Canada largest bank and one of the largest in the world by market capitalization, we have a diverse business model driven by innovation and delivering exceptional experiences to our 17 million customers across Canada, the United States and 27 other countries. Learn more at rbc.com.

We are proud to support a wide range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes fund 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 retail investors through segregated accounts, mutual funds, mutual funds, hedge funds, exchange traded funds and specialized investment strategies. The RBC GAM group of companies manages approximately 550 billion dollars assets and has around 1,500 employees spread across Canada, United States, Europe and Asia.

SOURCE RBC Global Asset Management Inc.

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