RBC Global Asset Management Inc. announces merger of RBC European Dividend Fund with RBC European Equity Fund

TORONTO, March 30, 2022 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced that RBC European Dividend Fund (the "terminating Fund") will be merged with RBC European Equity Fund (the "continuing Fund") on a tax-deferred basis effective June 17, 2022 (the "effective date"). The merger is being made to reduce duplication across the RBC Funds lineup.

Terminating Fund	Continuing Fund
RBC European Dividend Fund	RBC European Equity Fund

Unitholders of the terminating Fund will receive an equivalent series of units of the continuing Fund, on a dollar-for-dollar and tax-deferred basis.

The terminating Fund will be wound down following the merger. Unitholders may redeem or switch their holdings in the terminating Fund until market close on June 16, 2022. Unitholders of the terminating Fund will be sent a written notice detailing changes related to the merger at least 60 days prior to the effective date.

The Independent Review Committee of RBC Funds considered and approved the proposed merger, after determining that the merger achieves a fair and reasonable result for the terminating 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 88,000+ 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 Asset Management and Phillips, Hager & North Investment Management. 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 $580 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management Inc.

please contact: Brandon Dorey, RBC GAM Corporate Communications, [email protected], 416-955-7397