PH&N launches two new funds: PH&N Monthly Income Fund and PH&N Canadian
Equity Value Fund
"Both of these new investment solutions translate the investment strength of RBC Global Asset Management into timely and relevant solutions for Canadian investors," said
The PH&N Monthly Income Fund is designed to meet the needs of investors seeking a reliable income stream by drawing on a stable, conservative mix of income-producing investments, including Canadian government bonds, Canadian corporate bonds and conservative high-yield bonds. With an emphasis on conservatism, the Fund seeks to offer investors a target annual distribution of 5 per cent*.
The PH&N Canadian Equity Value Fund extends PH&N's offerings in the Canadian equity arena, adding a value-oriented choice to its stable of Canadian equity funds. "Drawing on the strengths of a seasoned Canadian equity value team, the PH&N Canadian Equity Value Fund offers investors the opportunity for additional style diversification within the domestic market," said Montalbano. "The management team's conservative approach makes the Fund a distinct choice among value-oriented Canadian mutual funds."
Complementing the Growth-at-Reasonable-Price strategy already employed by PH&N's Canadian Equity Team, the PH&N Canadian Equity Value Fund's management team will employ a risk-averse, value-based approach to identifying undervalued opportunities in the Canadian market. Suitable as a core holding in an investor's portfolio, the Fund will focus on providing downside protection while generating solid long-term returns for investors.
True to PH&N's commitment to low fees, both funds offer investors the choice of three low-cost fee options: Series D (available for clients who invest directly through PH&N and discount brokerages, including RBC Direct Investing) and Series C and F (available through financial advisors). All series are available for sale effective
The management fee for each fund series is outlined in the table below.
------------------------------------------------------------------------- PH&N Monthly Income PH&N Canadian Equity Value Fund - Management fee Fund - Management fee ------------------------------------------------------------------------- Series D 0.90% 1.00% ------------------------------------------------------------------------- Series C 1.65% 1.75% ------------------------------------------------------------------------- Series F 0.65% 0.75% ------------------------------------------------------------------------- * Payout rate may change according to market conditions.
Please read the prospectus 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.
About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) comprises RBC Asset Management Inc. (RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) and RBC Global Asset Management (U.S.) Inc. Combined, RBC GAM's component companies manage approximately CAD$200 billion in assets in
RBC GAM is part of RBC Wealth Management, which directly serves affluent and high net worth clients in
For further information: Chris Dotson, RBC Global Asset Management Communications, (604) 408-6009; Matt Gierasimczuk, RBC Media Relations, (416) 974-2124
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