RBC Asset Management reduces management fees

RBC Asset Management Inc. says it is reducing the management fees on four RBC funds effective November 1.

For RBC $U.S. Money Market Fund, the management fee drops to 0.85% from 1.00%.

For RBC Canadian Short-Term Income Fund and RBC Bond Fund, the management fees drop to 1.15% from 1.25%.

For RBC Global High Yield Fund, the management fee drops to 1.50% from 1.75%.

The asset management firm also indicated that further reductions are planned for April 1, 2008, to bring the management fees for RBC Canadian Short-Term Income Fund and RBC Bond Fund to 1%.