Toronto-based RBC Global Asset Management Inc. (RBCGAM) announced changes to the risk ratings of three of the funds it sponsors on Wednesday.

The risk ratings for RBC O’Shaughnessy U.S. Growth Fund, RBC O’Shaughnessy U.S. Growth Fund II and RBC Private O’Shaughnessy U.S. Growth Equity Pool have changed from “medium to high” to “high”.

The changes are the result of an annual review, RGMGAM announced in a statement. No material changes have been made to the investment objectives, strategies or management of the affected funds.

These changes will be reflected in the renewal of the simplified prospectus of the RBC funds and RBC private pools, which is scheduled to be filed on or about June 24.