TORONTO, April 1, 2024 /CNW/ - RBC Global Asset Management
Inc. ("RBC GAM Inc.") today announced the closure of Phillips,
Hager & North Inflation-Linked Bond Fund (the "Fund") effective
on or about June 14, 2024 (the
"Effective Date"). The Fund is closed to new purchases effective
immediately.
Pre-established pre-authorized purchases for existing
unitholders will continue to be made until the Effective Date.
Unitholders may redeem or switch their holdings in the Fund until
market close of June 12, 2024. Any
remaining units will be redeemed and the proceeds distributed to
unitholders.
In the case of the Fund being held in registered plans, the
redemption proceeds will remain within the plan unless unitholders
instruct otherwise in advance of market close on June 12, 2024. There will be no tax implications
as a result of the transaction if units are held in a registered
plan.
If units of the Fund are held in a non-registered account, the
closure of the Fund will be treated as a deemed disposition, and
may result in a taxable capital gain or loss, depending on each
unitholder's individual situation.
Unitholders will be sent a written notice regarding the closure
of the Fund.
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 and PH&N Funds 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 94,000+ 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, Phillips, Hager & North Investment Management and RBC
Indigo Asset Management Inc. 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 $575 billion in
assets and have approximately 1,500 employees located across
Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.