TORONTO, April 5, 2016 /CNW/ - RBC Global Asset Management Inc. today announced that as of April 7, 2016, PH&N High Yield Bond Fund ("the Fund") will be closed to new investors. The Fund was re-opened to new investors on March 28, 2016, as recent opportunities provided the portfolio manager with a limited amount of additional capacity for the Fund. Existing unitholders of the Fund will continue to be able to make investments into the Fund after it is capped.

Purchase orders by new investors submitted on or before 4:00 pm ET on April 7, 2016 will be processed.

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, PH&N Funds and BlueBay Funds are offered by RBC Global Asset Management Inc. and distributed through authorized dealers.

About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes BlueBay Asset Management and Phillips, Hager & North Investment Management. 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. The RBC GAM group of companies manage more than $380 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC