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
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,
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:
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:
RBC Global Asset Management Communications,