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News Releases

 

New PH&N inflation-linked bond fund combines PH&N Management, inflation protection, low fee

TORONTO, July 7, 2009 — RBC Global Asset Management today announced the launch of the PH&N Inflation-Linked Bond Fund.

Managed by the fixed income team at Phillips, Hager & North Investment Management Ltd. (PH&N), the Fund is designed for investors who seek a cost-efficient vehicle that generates interest income linked to inflation.

The Fund invests primarily in real return bonds and inflation-linked bonds issued or guaranteed by Canadian and foreign governments and corporations. It combines active management by PH&N's fixed income team with an advantageous fee structure; it has among the lowest management fees among funds in the inflation-linked fixed income category in Canada (0.80% for Series C units, 0.45% for Series D units, and 0.30% for Series F units).

"We are pleased to offer investors additional choice in the form of a bond fund that provides inflation protection, diversification, and the expertise of PH&N's fixed income team," said John Montalbano, head of RBC Global Asset Management and CEO of Phillips, Hager & North. "Many investors today are concerned about the possibility of rising inflation in the future, and this fund is structured to help investors not only save for retirement, but do so in a vehicle that preserves their spending power over the long term. Moreover, consistent with our focus on value, this fund is a low-cost leader in its category."

The Fund's lead managers are Scott Lamont, vice president and head of PH&N's fixed income team, and William John, vice president.

Series D units of the Fund are available directly through PH&N Investment Funds Ltd. and RBC Direct Investing Inc. Series C and F units of the Fund are available through advisors. All series are available for sale effective July 7, 2009.

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.

Please read the prospectus 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.

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


 



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07/07/2009 16:45:55