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 will no longer be accepting new investors due to the fulfillment of additional capacity provided to the portfolio manager on June 10, 2024.

The decision to close the Fund to new investors comes as a result of significant demand from investors, prompting RBC GAM Inc. to limit new investments to existing unitholders only following the closure. Purchase orders submitted by new investors before 4:00 pm ET on June 28, 2024, will still be processed.

Investors are advised to consult their advisors and review the prospectus or Fund Facts document before making any investment decisions. It is important to note that mutual funds are not guaranteed, and their values can fluctuate. 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 Inc., is a global financial institution with a focus on delivering leading performance and exceptional experiences to its clients. With a diversified business model and a commitment to innovation, RBC serves over 18 million clients in Canada, the U.S., and 27 other countries.

RBC Global Asset Management is the asset management division of Royal Bank of Canada, offering a range of investment management services to institutional, high-net-worth, and individual investors. With approximately $625 billion in assets under management, RBC GAM Inc. and its affiliated companies manage funds across Canada, the United States, Europe, and Asia.

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