Introducing the RBC Institutional Cash Funds
VANCOUVER, February 11, 2010 Phillips,
Hager & North Investment Management Ltd. (PH&N) today
launched a suite of institutional cash mutual funds intended
to help treasury managers and others with similar responsibilities
increase the return potential of their organization's short-term
"We believe that treasury managers may capture additional
investment returns by taking a portfolio of funds approach
to managing their cash assets," said Damon Williams,
head of RBC Global Asset Management, institutional client
group, and PH&N President. "The biggest lesson from
the recent credit crisis was the importance of credit analysis.
Short-term corporate notes are an important component of money
market returns but clients aren't necessarily in a position
to hire the specialized staff required to invest in them directly.
With RBC Institutional Cash Funds, clients benefit from the
rigorous credit analysis performed by our team of in-house
credit experts, while investing in a portfolio that matches
their organization's short-term cash flows."
Designed to be used in combination, each RBC Institutional
Cash Fund invests in a defined type of cash asset, allowing
treasury managers to structure an investment portfolio that
matches key characteristics of their organization's cash flows.
The four new funds are:
- RBC Institutional Government - Plus Cash Fund
- RBC Institutional Cash Fund
- RBC Institutional US$ Cash Fund
- RBC Institutional Long Cash Fund
The funds are conservatively managed by the PH&N fixed
income team. Like other PH&N fixed income funds, they
adhere to a multi-strategy approach. By their short-term nature,
they emphasize disciplined credit research. The PH&N credit
team has a proven track record in managing corporate bond
funds and in contributing to returns in broader fixed income
mandates. The RBC Institutional Cash Funds leverage that expertise
to the benefit of short-term investors with defined liquidity
and investment objectives. An online web-based tool will be
launched shortly to allow treasury managers to access these
funds and manage their organization's cash resources from
their own desk.
The funds are considered to be appropriate investment vehicles
for organizations with a minimum of $25 million in cash and
cash equivalent assets domiciled in Canada. The RBC Institutional
Cash Funds are offered pursuant to an Offering Memorandum
as a private placement. Additional information is available
through the RBC Institutional Cash Funds link on www.rbcgam.com.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) comprises RBC Asset
Management Inc. (RBC AM), Phillips, Hager & North Investment
Management Ltd. (PH&N) and RBC Global Asset Management
(U.S.) Inc. The group of companies form the asset management
division of Royal Bank of Canada (RBC), a global institution
with the reputation of stability and strength. Combined, RBC
GAM group of companies manage approximately $200 billion in
assets as at September 30, 2009. Website: www.rbcgam.com.
About RBC Wealth Management
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 $500 billion of
assets under administration, over $245 billion of assets under
management and more than 4,500 financial consultants, advisors,
private bankers and trust officers.
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For more information, please contact:
RBC Global Asset Management Communications,