RBCGAM caps five funds

Toronto-based RBC Global Asset Management Inc. has capped five RBC Select Class funds held in the RBC corporate-class structure. RBC Select Very Conservative Class, RBC Select Conservative Class, RBC Select Balanced Class, RBC Select Growth Class and RBC Select Aggressive Growth Class now are closed to new and additional investments. The funds were capped to address changes in the 2013 federal budget that would eliminate the tax benefits associated with forward agreements in 2014. RBCGAM is exploring its options for these funds.

(cohara@investmentexecutive.com).