RBC Global Asset Management (U.S.) Inc. announces fund name change

MINNEAPOLIS, Sept. 30, 2016 /PRNewswire/ - RBC Global Asset Management (U.S.) Inc. (RBC GAM) today announced that effective immediately the name of RBC BlueBay Total Return Credit Fund will change to RBC BlueBay Diversified Credit Fund.

The investment objectives and strategies of the Fund have not changed. The new name more clearly identifies the Fund's investment process and the types of investments the Fund holds.

Multi-credit funds such as the RBC BlueBay Diversified Credit Fund are complements to core fixed income or index funds, and offer investors opportunistic asset allocation and improved portfolio diversification, both of which may benefit investors as global central bank interventions are expected to wane. This Fund also provides investors with access to various asset classes that would be difficult to purchase as individual investments. The name change better reflects the Fund's orientation towards global core plus credit sectors and its use as an option for those investors looking to diversify away from core fixed income.

"We are pleased to continue to offer the exceptional expertise of our partner, BlueBay Asset Management, to our clients," said Matthew Appelstein, head of Distribution for RBC GAM. "Institutional investors continue to seek alternative and global investment solutions to complement their U.S. exposure, and the RBC BlueBay Diversified Credit Fund provides them with award-winning investment management and diversification across geographies and asset classes."

The RBC BlueBay Diversified Credit Fund seeks to achieve a high level of total return consisting of income and capital appreciation. This solution, which is offered to investors in a mutual fund and separate account, is actively managed to optimize a portfolio allocated across several sleeves, including high yield, bank loans, convertibles, emerging market local and hard currencies and emerging markets corporate debt. Launched on December 9, 2014, the Fund has more than US$67 million in assets under management as of June 30, 2016. BlueBay manages US$3.9 billion in related multi-credit strategies as of July 31, 2016.

About BlueBay Asset Management LLP
BlueBay Asset Management LLP (BlueBay) is a leading global fixed income asset manager. Headquartered in London with offices in the US, Japan, Hong Kong, Switzerland, Ireland and Luxembourg, BlueBay manages more than US$55 billion for institutional investors and distributors (as of 30 June 2016). BlueBay is wholly-owned by Royal Bank of Canada and part of RBC's asset management division, RBC Global Asset Management. BlueBay is authorized and regulated by the Financial Conduct Authority.

About RBC Global Asset 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 $295 billion USD and have approximately 1,300 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 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.

RBC Global Asset Management (U.S.) Inc. is the Adviser for the RBC Funds. The Fund is sub-advised by BlueBay Asset Management LLP and BlueBay Asset Management USA LLC, wholly owned subsidiaries of RBC. The RBC 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.

Diversification does not assure a profit nor protect against loss in a declining market.

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

Mutual fund investing involves risk. Principal loss is possible. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower- and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities. The Fund invests in foreign securities, which involve greater volatility and political, economic, and currency risks, and differences in accounting methods. These risks may be greater in emerging markets. The Fund invests in securities issued by smaller companies, which involve greater risks such as more volatility and less liquidity than larger companies. The Fund may invest in derivatives, which involve special risks including correlation, counterparty, liquidity, operational, accounting, and tax risks. These risks, in certain cases, may be greater than risks presented by more traditional investments. These risks are described more fully in the prospectus.

SOURCE RBC Global Asset Management (U.S.)