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About RBC > Media Newsroom > News Releases > PH&N Launches Two New Funds: PH&N Monthly Income Fund and PH&N Canadian Equity Value Fund

PH&N Launches Two New Funds: PH&N Monthly Income Fund and PH&N Canadian Equity Value Fund

TORONTO, January 04, 2010— Phillips, Hager & North Investment Management Ltd. (PH&N) today announced the launch of two new offerings for Canadian investors: the PH&N Monthly Income Fund and the PH&N Canadian Equity Value Fund.

“Both of these new investment solutions translate the investment strength of RBC Global Asset Management into timely and relevant solutions for Canadian investors,” said John Montalbano, head of RBC Global Asset Management. “The PH&N Monthly Income Fund provides a straightforward, quality solution that meets Canadian investors’ demand for dependable income in a low-interest rate environment – whether in retirement or as a supplement to their existing income.”

The PH&N Monthly Income Fund is designed to meet the needs of investors seeking a reliable income stream by drawing on a stable, conservative mix of income-producing investments, including Canadian government bonds, Canadian corporate bonds and conservative high-yield bonds. With an emphasis on conservatism, the Fund seeks to offer investors a target annual distribution of 5 per cent*.

The PH&N Canadian Equity Value Fund extends PH&N’s offerings in the Canadian equity arena, adding a value-oriented choice to its stable of Canadian equity funds. “Drawing on the strengths of a seasoned Canadian equity value team, the PH&N Canadian Equity Value Fund offers investors the opportunity for additional style diversification within the domestic market,” said Montalbano. “The management team’s conservative approach makes the Fund a distinct choice among value-oriented Canadian mutual funds.”

Complementing the Growth-at-Reasonable-Price strategy already employed by PH&N’s Canadian Equity Team, the PH&N Canadian Equity Value Fund’s management team will employ a risk-averse, value-based approach to identifying undervalued opportunities in the Canadian market. Suitable as a core holding in an investor’s portfolio, the Fund will focus on providing downside protection while generating solid long-term returns for investors.

True to PH&N’s commitment to low fees, both funds offer investors the choice of three low-cost fee options: Series D (available for clients who invest directly through PH&N and discount brokerages, including RBC Direct Investing) and Series C and F (available through financial advisors). All series are available for sale effective January 4, 2010.The management fee for each fund series is outlined in the table below.


PH&N Monthly Income Fund – Management fee

PH&N Canadian Equity Value Fund – Management fee

Series D



Series C



Series F



* Payout rate may change according to market conditions.

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.

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 RBC Global Asset Management (U.S.) Inc. Combined, RBC GAM’s component companies manage approximately CAD$200 billion in assets in Canada and the United States, including over $100 billion in IFIC-reported mutual fund assets in Canada. 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 $500 billion of assets under administration, almost $250 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.


For more information, please contact:
Chris Dotson, RBC Global Asset Management Communications,

Matt Gierasimczuk, RBC Media Relations,