Toronto-based RBC Global Asset Management Inc. (RBC GAM) of Friday announced that unitholders approved changes to the investment objectives of seven RBC Funds, the transition of portfolio management responsibilities for the RBC Emerging Markets Bond Fund from RBC Global Asset Management (UK) Ltd. to RBC GAM, and the reduction of management fees and administration fees on a number of fund series.

Unitholders approved amendments to the investment objectives of several funds that provides the funds with the flexibility to track the performance of each fund’s benchmark index by investing either directly in securities or indirectly through investment in units of other mutual funds managed by RBC GAM or an affiliate.

Effective June 30, the name of RBC Advisor Canadian Bond Fund will change to RBC Canadian Bond Index Fund.

Effective on or about Sept. 15, the fund’s benchmark will change to FTSE TMX Canada Universe + Maple Bond Index and the fund will invest up to 100% of its assets in the RBC Canadian Bond Index ETF.

Effective on or about Sept. 15, the benchmark of RBC Canadian Index Fund will change to FTSE Canada All Cap Domestic Index, and RBC U.S. Index Fund’s benchmark will change to FTSE USA Index.

Also effective on or about Sept. 15, RBC U.S. Index Currency Neutral Fund’s benchmark will change to FTSE USA Hedged 100% to CAD Index and the fund will invest up to 100% of its assets in the RBC U.S. Equity Index ETF.

As well, the benchmark of RBC International Index Currency Neutral Fund will change to FTSE Developed ex North America Hedged 100% to CAD Index, effective on or about Sept. 15, and the fund will invest up to 100% of its assets in the RBC International Equity Index ETF.

RBC Jantzi Balanced Fund unitholders approved an amendment to the fund’s investment objectives to provide the fund with the flexibility to invest its assets primarily in units of other funds that are managed by RBC GAM or an affiliate. Effective June 30, the name of the fund will change to RBC Vision Balanced Fund.

RBC GAM also announced that portfolio management responsibilities for RBC Emerging Markets Bond Fund will transition from RBC GAM UK to RBC GAM on or about Aug. 1.

Full details of all the changes, including the reductions to management and administration fees are available in the firm’s announcement.