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
|
|
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.
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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%.
|
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SOURCE RBC Global Asset Management (U.S.)