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

RBC Global Asset Management Inc. has made a significant announcement today regarding the closure of the Phillips, Hager & North High Yield Bond Fund to new investors as of June 28, 2024. The Fund was recently reopened to new investors on June 10, 2024, but due to overwhelming demand, the portfolio manager has reached full capacity and will no longer be accepting new investors.

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

It is important for investors to consult with their advisors and review the prospectus or Fund Facts document before making any investment decisions. Mutual fund investments come with associated commissions, fees, and expenses, and past performance is not indicative of future results.

RBC Global Asset Management Inc. is a key player in the financial industry, offering a wide range of investment management services to clients worldwide. As part of Royal Bank of Canada, they have a strong focus on innovation and providing exceptional experiences to their clients.

This closure of the Phillips, Hager & North High Yield Bond Fund highlights the continued demand for investment opportunities and the importance of staying informed and proactive in the ever-changing financial landscape.