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RBC Global Asset Management Inc. re-opens Phillips, Hager & North High Yield Bond Fund to new investors

TORONTO, June 7, 2024 — RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced that Phillips, Hager & North High Yield Bond Fund (the “Fund”) will re-open to new investors on June 10, 2024.

The Fund, managed by Hanif Mamdani, Managing Director and Head of Alternative Investments at RBC GAM Inc., has a 20-year track record. It seeks to provide a high level of income and the opportunity for capital appreciation by investing primarily in a well-diversified portfolio of fixed income securities issued by Canadian, U.S. and foreign corporations and governments.

The Fund was capped to new investors on July 29, 2022. It currently has a limited amount of additional capacity, allowing for purchases by new investors as the portfolio manager and the team have identified attractive investment opportunities in fixed income markets. RBC GAM Inc. reserves the right to cap the Fund or otherwise restrict investment at a later date.

Please consult your advisor and read the prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Funds, BlueBay Funds, PH&N Funds and RBC Private Pools are offered by RBC GAM Inc. and distributed through authorized dealers in Canada. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.

About RBC Global Asset Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC). RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. RBC Funds, BlueBay Funds and PH&N Funds are offered by RBC Global Asset Management Inc. (RBC GAM Inc.) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) and RBC Indigo Asset Management Inc., manage approximately $625 billion in assets and have approximately 1,600 employees located across Canada, the United States, Europe and Asia.