RBC Global Asset Management (RBC GAM) Inc. will be closing three funds to new investors, the Toronto-based company announced on Monday.
PH&N Short Term Bond and Mortgage Fund, PH&N Bond Fund and PH&N Community Values Bond Fund will not be open to new investors as of July 4. However, existing investors will be able to make additional investments into the funds following that date.
“RBC GAM Inc. proactively made the decision to limit inflows to the funds in order to preserve the respective portfolio management teams’ ability to fulfill their mandates over the long term and to maintain the integrity of their disciplined management approach,” according to the announcement.
Purchase orders by new investors submitted by 4:00 p.m. ET on July 4 will be processed.
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