Mutual Fund Governance
Building on a long tradition of independent fund governance,
RBC
Asset Management and the Board of Governors of RBC Funds have
been leaders in the development and implementation of a rule
requiring all Canadian mutual funds and investment funds to
have
an independent review committee. The intent of the rule is
to
enhance fund governance practices in the interests of investors
by requiring independent review of conflicts of interest that
may
arise in fund management. RBC Asset Management is also an
active member of the Investment Funds Institute of Canada
and a
founding member of the Canadian Coalition for Good Governance,
organizations devoted to promoting the interests of the investing
public.
In May 2008, RBC acquired Vancouver-based fund manager and
investment management firm Phillips, Hager & North Investment
Management Ltd. (PH&N). PH&N is an active advocate
for best
practices in corporate governance. The company has a comprehensive
proxy voting policy, engages directly on governance issues
with companies whose shares are held in its clients' accounts,
and
has been a member of the Canadian Coalition for Good Governance
since 2004.
PH&N and RBC Asset Management Inc. put their clients'
interests
first, through a culture of delivering value, choice and transparency.
Both firms are members of the Social Investment Organization,
a
non-profit organization devoted to promoting socially responsible
investing in Canada, and both offer mutual funds for socially
responsible investors.
For more information, see Mutual
Funds and Governance: Taking Care of Your Investments,
a publication developed for RBC Asset Management clients and
other stakeholders.
