RBC Asset Management Inc. today announced a series of changes within the RBC Funds line-up, including a reduction in management fees, fund name changes and a change in policy for accounts below fund minimums.

These changes will be effective June 27, upon the renewal of the RBC Funds 2008 Simplified Prospectus.

Effective June 27, management fees will be reduced for the Series F and Series D units of the RBC Canadian Short-Term Income Fund and the RBC Bond Fund.

The management fee for Series F units drops to 0.50% from 0.60%, while the fee for Series D units drops to 0.65% from 0.75%.

Also effective June 27, RBC Cash Flow Portfolio, RBC Enhanced Cash Flow Portfolio, and RBC Tax Managed Return Fund will change their names:

> RBC Cash Flow Portfolio will become RBC Managed Payout Solution;

> RBC Enhanced Cash Flow Portfolio will become RBC Managed Payout Solution – Enhanced

> RBC Tax Managed Return Fund will become RBC Managed Payout Solution – Enhanced Plus

These are name changes only and the investment strategies of the funds have not changed. RBC Asset Management says “the new names more clearly express what these funds offer to investors — a comprehensive solution that combines an active investment approach with a strategy to produce tax-efficient monthly payouts.”

RBC Asset Management also reports that the disclosure in the RBC Funds 2008 Simplified Prospectus has been amended to allow RBC Asset Management, without notice, to switch units of RBC Premium Money Market Fund and RBC Premium $U.S. Money Market Fund to the same series of units of the RBC Canadian Money Market Fund and the RBC $U.S. Money Market Fund respectively.

Previously, when these account balances fell below the required minimum, units of these funds could only be redeemed, without notice, for cash.