RBC Global Asset Management reduces fees for five U.S. mutual funds

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Jun 18, 2020, 11:20 ET

MINNEAPOLIS, June 18, 2020 /PRNewswire/ - RBC Global Asset Management ("RBC GAM") today announced that it reduced fees for five of its U.S. mutual funds available to institutional and retail investors.

RBC GAM reviews its fees on a consistent basis and these fee reductions reflect the firm's commitment to delivering transparency, value and choice to investors.

"RBC Global Asset Management strives to ensure that our U.S. mutual fund fees are compelling relative to their peers," said Jeff Masom, Global Head of Institutional Distribution at RBC Global Asset Management. "We are pleased to offer some of our top-selling funds at fees that are in the bottom quartile of their respective peer groups¹. Through these fee reductions, we are enhancing the value we offer to institutional investors and professional buyers in the intermediary market."

The operating expense limits and/or management fees for the following funds are reduced effective June 18, 2020:

Fund	Operating Expense Limit Reduction²
Fund	Class A	Class I	Class R6
RBC BlueBay Emerging Market Debt Fund	112 bps to 104 bps	87 bps to 79 bps	82 bps to 74 bps
RBC Emerging Markets Small Cap Equity Fund	170 bps to 149 bps	145 bps to 124 bps	NA
RBC Global Opportunities Fund	111 bps to 100 bps	86 bps to 75 bps	81 bps to 70 bps
RBC International Opportunities Fund	114 bps to 105 bps	89 bps to 80 bps	84 bps to 75 bps

Fund	Management Fee Reduction³
RBC BlueBay Emerging Market Debt Fund	75 bps to 65 bps
RBC BlueBay High Yield Bond Fund	70 bps to 55 bps
RBC Emerging Markets Small Cap Equity Fund	125 bps to 104 bps
RBC Global Opportunities Fund	76 bps to 65 bps
RBC International Opportunities Fund	80 bps to 70 bps

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 84,000+ employees who 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 34 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 GAM)
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes BlueBay Asset Management and Phillips, Hager & PH&N Institutional. 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 $345 billion USD in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.

Before investing, you should consider carefully a Fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, which you can request by visiting https://us.rbcgam.com/mutual-funds/literature/content/default.fs or calling 800-422-2766. Please read the prospectus carefully before investing.

Mutual fund investing involves risk. Principal loss is possible.

RBC Global Asset Management (U.S.) Inc. is the Adviser for the RBC Funds Trust. The RBC BlueBay Emerging Markets Debt and High Yield Bond Funds are sub-advised by BlueBay Asset Management LLP. The RBC BlueBay High Yield Bond Fund is also sub-advised by BlueBay Asset Management USA LLC. The RBC Emerging Markets Small Cap Equity, Global Opportunities, and International Opportunities Funds are sub-advised by RBC Global Asset Management (UK) Limited. The Funds are distributed by Quasar Distributors, LLC. Securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, member NYSE/FINRA/SIPC.

Not FDIC Insured. No Bank Guarantee. May Lose Value.


¹ Source: Morningstar as of 5/31/20. Class I shares. The "bottom quartile" is the least expensive 25% and the "top quartile" is the most expensive 25% within a peer group.

² The Funds' gross expense ratios are: 2027 bps (A), 203 bps (I), and 3299 bps (R6) for EM Debt; 236 bps (A) and 125 bps (I) for HY Bond; 543 bps (A) and 507 bps (I) for EM Small Cap Equity; 3700 bps (A), 183 bps (I), and 1866 bps (R6) for Global Opportunities; and 3630 bps (A), 116 bps (I), and 2980 bps (R6) for Intl Opportunities. The Adviser has contractually agreed to waive fees and/or pay operating expenses to limit the Funds' total expenses (excluding brokerage and other investment-related costs, interest, taxes, dues, fees and other charges of governments and their agencies, extraordinary expenses such as litigation and indemnification, other expenses not incurred in the ordinary course of the Fund's business and acquired fund fees and expenses) to the limits in the table. This expense limitation agreement is in place until January 31, 2021 for EM Debt, and until July 31, 2021 for EM Small Cap Equity, Global Opportunities, and Intl Opportunities, and may not be terminated by the Adviser before these dates. The limits in the table are as of the most recent prospectus supplements dated June 18, 2020 and applicable to investors.

³ Management fees are included in the operating expense limits.
A basis point is one hundredth of one percent, 0.01%.