RBC Asset Management Inc. announced a proposal today to restructure a number of funds within the RBC funds line-up, that will provide investors with a broader range of investment opportunities beyond Canada’s borders and simplify the fund line-up.

“We continuously review the RBC funds to ensure that they reflect the best thinking of our portfolio management team and meet the needs of investors,” said Brenda Vince, president, RBC Asset Management Inc. “Over the past 18 months, our portfolio management team completed a significant amount of research related to asset allocation and global investing. The removal of foreign content restrictions by the federal government in July 2005 provided an additional opportunity to incorporate this work into the RBC fds.”

As part of the restructuring, it is proposed that the fundamental investment objectives of a number of funds be changed to increase each fund’s ability to invest outside Canada. Another proposal is that certain funds be merged in order to simplify the fund line up and reduce duplication across certain RBC funds.

However, these actions are subject to regulatory and unitholder approval. And RBC Asset Management will seek these required approvals at special meetings to be held on or about June 23in Toronto. Notice of the meetings and the management information circulars with full details of the proposals will be mailed on or about May 23 to those who were unitholders of record on May 15, 2006.

If the necessary approvals are received, the proposed mergers and changes to investment objectives will take effect on or about June 30.