RBC Global Asset Management announces unitholder approvals, fee reductions and other changes to certain RBC Funds and PH&N Funds

TORONTO, June 22, 2017 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced the unitholder approval of changes to the investment objectives of seven RBC Funds, the reduction of management fees and administration fees on a number of fund series and the transition of portfolio management responsibilities for the RBC Emerging Markets Bond Fund from RBC Global Asset Management (UK) Limited ("RBC GAM UK") to RBC GAM Inc.

Details of the changes are as follows:

Changes to Investment Objectives

RBC Advisor Canadian Bond Fund Unitholders approved an amendment to the fund's investment objectives that provides the fund with the flexibility to track the performance of its benchmark index by investing either directly in fixed-income securities or indirectly through investment in units of other mutual funds managed by RBC GAM Inc. or an affiliate. Effective June 30, 2017, the name of the fund will change to RBC Canadian Bond Index Fund.

Effective on or about September 15, 2017, the fund's benchmark will change to FTSE TMX Canada Universe + Maple Bond Index and the fund will invest up to 100% of its assets in the RBC Canadian Bond Index ETF.

RBC Canadian Government Bond Index Fund Unitholders approved an amendment to the fund's investment objectives that provides the fund with the flexibility to track the performance of its benchmark index by investing either directly in fixed-income securities or indirectly through investment in units of other mutual funds managed by RBC GAM Inc. or an affiliate.

RBC Canadian Index Fund Unitholders approved an amendment to the fund's investment objectives that provides the fund with the flexibility to track the performance of its benchmark index by investing either directly in equity securities or indirectly through investment in units of other mutual funds managed by RBC GAM Inc. or an affiliate.

Effective on or about September 15, 2017, the fund's benchmark will change to FTSE Canada All Cap Domestic Index.

RBC U.S. Index Fund Unitholders approved an amendment to the fund's investment objectives that provides the fund with the flexibility to track the performance of its benchmark index by investing either directly in equity securities or indirectly through investment in units of other mutual funds managed by RBC GAM Inc. or an affiliate.

Effective on or about September 15, 2017, the fund's benchmark will change to FTSE USA Index.

RBC U.S. Index Currency Neutral Fund Unitholders approved an amendment to the fund's investment objectives that provides the fund with the flexibility to track the performance of its benchmark index by investing either directly in equity securities or indirectly through investment in units of other mutual funds managed by RBC GAM Inc. or an affiliate.

Effective on or about September 15, 2017, the fund's benchmark will change to FTSE USA Hedged 100% to CAD Index and the fund will invest up to 100% of its assets in the RBC U.S. Equity Index ETF.

RBC International Index Currency Neutral Fund Unitholders approved an amendment to the fund's investment objectives that provides the fund with the flexibility to track the performance of its benchmark index by investing either directly in equity securities or indirectly through investment in units of other mutual funds managed by RBC GAM Inc. or an affiliate.

Effective on or about September 15, 2017, the fund's benchmark will change to FTSE Developed ex North America Hedged 100% to CAD Index and the fund will invest up to 100% of its assets in the RBC International Equity Index ETF.

RBC Jantzi Balanced Fund Unitholders approved an amendment to the fund's investment objectives to provide the fund with the flexibility to invest its assets primarily in units of other funds that are managed by RBC GAM Inc. or an affiliate. Effective June 30, 2017, the name of the fund will change to RBC Vision Balanced Fund.

Reductions to Management and Administration Fees

Sub-advisor Changes

On or about August 1, 2017, portfolio management responsibilities for RBC Emerging Markets Bond Fund will transition from RBC GAM UK to RBC GAM Inc.

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 and PH&N Funds are offered by RBC GAM Inc. and distributed through authorized dealers.

About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes RBC GAM Inc., RBC GAM UK and institutional money managers 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 C$400 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management Inc.

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