TORONTO, July 25,
2022 /CNW/ - RBC Global Asset Management Inc.
("RBC GAM Inc.") today announced that as of July 29, 2022, Phillips, Hager & North High
Yield Bond Fund ("the Fund") will be closed to new investors.
The Fund was re-opened to new investors on July 12, 2022, as recent opportunities provided
the portfolio manager with a limited amount of additional capacity
for the Fund, which was fulfilled due to significant demand from
investors. Existing unitholders of the Fund will continue to be
able to make investments into the Fund after it is capped.
Purchase orders by new investors submitted on or before
4:00 pm ET on July 29, 2022 will be processed.
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, BlueBay Funds, PH&N Funds and RBC Private Pools 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 purpose-driven, principles-led
approach to delivering leading performance. Our success comes from
the 89,000+ employees who leverage their imaginations and insights
to 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 our 17 million clients in Canada, the U.S. and 27 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.
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 $560 billion in assets
and have approximately 1,500 employees located across Canada, the United
States, Europe and
Asia.
SOURCE RBC Global Asset Management Inc.