RBC Global Asset Management slims fees

Management fees will be reduced later this year on a slew of mutual funds sponsored by Toronto-based RBC Global Asset Management Inc. (RBCGAM). Effective June 30, RBCGAM will decrease management fees by up to 15 basis points on 85 of the firm’s sponsored mutual funds, including certain RBC funds, PH&N funds, BlueBay funds, RBC corporate-class funds and RBC private pools. The decrease will apply to Series F, A, C, D, T and Advisor Series of those funds. As well, RBCGAM announced plans to phase out its Higher Net Worth fund series by the end of June. At that time, certain units or shares held in that series will be designated as the funds’ corresponding Series A, C or F units that will have management and administration fees equal to or lower than the units originally held. For a full list of the affected funds and additional information, visit www.funds.rbcgam.com.

(fcollie@investmentexecutive.com).