RBC Global Asset Management Inc. Closes PH&N High Yield Bond Fund to New Investors

TORONTO, July 25, 2022 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced that as of July 29, 2022, Phillips, Hager & North High Yield Bond Fund ("the Fund") will be closed to new investors.

The Fund was re-opened to new investors on July 12, 2022, as recent opportunities provided the portfolio manager with a limited amount of additional capacity for the Fund, which was fulfilled due to significant demand from investors. Existing unitholders of the Fund will continue to be able to make investments into the Fund after it is capped.

Purchase orders by new investors submitted on or before 4:00 pm ET on July 29, 2022 will be processed.

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, PH&N Funds and RBC Private Pools 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.

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 89,000+ 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.

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 $560 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management Inc.