RBCGAM re­opens fund

Investment Executive - - FOCUS ON PRODUCTS -

Toronto-based RBC Global As­set Man­age­ment Inc. (RBCGAM) has re­opened Phillips Hager & North Short Term Bond & Mort­gage Fund to new in­vestors. The fund was closed to new in­vestors in July 2016 as a means to man­age money in­flows. How­ever, the fund’s port­fo­lio man­agers have de­ter­mined that there now is enough ca­pac­ity in the short­term bond mar­ket to al­low for new in­vestors in the fund. RBCGAM re­serves the right to cap or re­strict in­vest­ment in the fund at a later date. This short-term bond fund in­vests pri­mar­ily in a di­ver­si­fied port­fo­lio of short-term, fixed-in­come se­cu­ri­ties that are is­sued by Cana­dian gov­ern­ments and cor­po­ra­tions, as well as first mort­gages on prop­er­ties lo­cated in Canada. Trail­ing com­mis­sions for the fund are 0.5%. Man­age­ment fees are 0.9% for A-class units and 0.4% for F-class units. Min­i­mum in­vest­ment is $500.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.