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News Releases

 

RBC Asset Management announces unitholder approval of changes to RBC Funds

TORONTO, June 26, 2009 — RBC Asset Management Inc. today announced that unitholders have approved changes to the RBC Canadian Diversified Income Trust Fund and the RBC DS North American Focus Fund. The changes will be effective July 1, 2009.

The changes are as follows:

RBC Canadian Diversified Income Trust Fund
Unitholders approved the amendment to the fund's investment objective, permitting the fund to increase its ability to invest in common and preferred shares of Canadian companies that pay dividends. The fund will be renamed the RBC Canadian Equity Income Fund.

RBC DS North American Focus Fund
Unitholders approved the amendment to the fund's investment objective, permitting the fund to invest primarily in equity securities of U.S. companies. The fund will be renamed the RBC DS U.S. Focus Fund.

About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) comprises RBC Asset Management Inc. (RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) and Voyageur Asset Management Inc. Combined, RBC GAM's component companies manage C$90 billion in IFIC-reported mutual fund assets in Canada and an additional C$100 billion in other institutional and private client assets in Canada and the United States. RBC AM won the Lipper Awards for "Best Bond Fund Family" in 2009 and "Best Overall Fund Group" in 2007 and 2008; PH&N won for "Best Bond Fund Family" in 2007 and 2008. Website: www.rbcgam.com.

RBC GAM is part of RBC Wealth Management, which directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia with a full suite of investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, and has more than $480 billion of assets under administration, more than $230 billion of assets under management and nearly 4,500 financial consultants, advisors, private bankers and trust officers.

- 30 -

For more information, please contact:
Chris Dotson,
RBC Global Asset Management Communications,
(604) 408-6009

 



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06/26/2009 15:03:29