TORONTO, June 27, 2014 /CNW/ - RBC Global Asset Management Inc. (RBC GAM) today announced that effective June 27, 2014, the name of RBC $U.S. Income Fund will change to RBC U.S. Monthly Income Fund.
The investment objectives and strategies of the fund have not changed. The fund will continue to offer a U.S. dollar purchase option. The change is effective today, upon the renewal of the RBC Funds 2014 Simplified Prospectus.
New Canadian Dollar Purchase Option
In addition, effective August 11, 2014, the RBC U.S. Monthly Income Fund will offer a Canadian dollar purchase option available to investors through the following: Series A, Advisor Series, Series F (available via financial advisors), Series D (available via direct-to-client platforms, PH&N Investment Services and RBC Direct Investing) and Series H and I.
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 C$335 billion in assets and have approximately 1,200 employees located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of the world's top 10 largest wealth managers*. RBC Wealth Management directly serves affluent, high-net-worth and ultra-high net worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa, and Asia with a full suite of banking, investment, trust and other wealth management solutions. 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 Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$690 billion of assets under administration, more than C$426 billion of assets under management and approximately 4,400 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2013. 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.