RBC Global Asset Management Inc. Announces Closure of Phillips, Hager & North High Yield Bond Fund to New Investors

RBC Global Asset Management Inc. announced today that the Phillips, Hager & North High Yield Bond Fund will be closed to new investors as of June 28, 2024. The Fund was recently reopened to new investors on June 10, 2024, but due to significant demand, the portfolio manager has reached full capacity.

Investors who submit purchase orders before 4:00 pm ET on June 28, 2024, will still have their orders processed. After the closure, only existing unitholders will be able to make additional investments in the Fund.

It is advised for investors to consult with their advisors and review the prospectus or Fund Facts document before investing. RBC Funds, BlueBay Funds, PH&N Funds, and RBC Private Pools are offered by RBC GAM Inc. and distributed through authorized dealers in Canada.

Royal Bank of Canada, the parent company of RBC Global Asset Management, is a global financial institution focused on delivering leading performance and exceptional experiences to its clients. RBC GAM manages approximately $625 billion in assets and has offices across Canada, the United States, Europe, and Asia.

This decision to close the Fund to new investors reflects the growing demand and interest in high-yield bond investments. Investors are encouraged to stay informed about future opportunities and developments in the market.