RBC Global Asset Management Inc. announces the capping and closure of Phillips, Hager & North Inflation-Linked Bond Fund

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.

RBC Logo (CNW Group/RBC Global Asset Management Inc.)RBC Logo (CNW Group/RBC Global Asset Management Inc.)

RBC Logo (CNW Group/RBC Global Asset Management Inc.)

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.



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