RBC Global Asset Management (RBC GAM) has made several changes to certain RBC Funds and PH&N Funds, including mergers, fee reductions and proposed changes to investment objectives. Some of these changes will be subject to unitholder and regulatory approval.

RBC GAM currently offers two separate fund lineups that adhere to socially responsible investing (SRI) principles: PH&N Community Values Funds and RBC Jantzi Funds. To reduce duplication between these two fund lineups, the following funds will be merging, effective June 30, 2017:

Terminating funds * Continuing funds
Phillips, Hager & North Community Values Balanced Fund RBC Jantzi Balanced Fund
Phillips, Hager & North Community Values Canadian Equity Fund RBC Jantzi Canadian Equity Fund
Phillips, Hager & North Community Values Global Equity Fund RBC Jantzi Global Equity Fund
* Phillips, Hager & North Community Values Bond Fund will not be subject to a merger.

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Unitholders of each series of the terminating funds set out above will receive an equivalent series of units of the corresponding continuing fund on a dollar-for-dollar and tax-deferred basis. Each of the terminating funds will be wound down following the mergers.

Unitholders of the terminating funds will be sent a written notice detailing changes related to the mergers at least 60 days prior to the effective date. Unitholders will have the right to redeem units of the terminating funds up to the close of business on the business day immediately preceding the effective date of the mergers.

Following the mergers, RBC GAM will offer Canadian investors a single lineup of funds that use a process to screen portfolio holdings using SRI criteria, which determines each fund’s investable universe.

Fee reductions for RBC Jantzi Funds


Effective June 30, 2017, the management fees and administration fees of the RBC Jantzi Funds will be reduced as follows:

Management fee Current Effective June 30, 2017
RBC Jantzi Balanced Fund – Series A / Advisor Series 1.85% 1.75%
RBC Jantzi Balanced Fund – Series D 1.10% 1.00%
RBC Jantzi Balanced Fund – Series F 0.85% 0.75%
Administration fee Current Effective June 30, 2017
RBC Jantzi Balanced Fund – Series A 0.15% 0.10%
RBC Jantzi Canadian Equity Fund – Series A 0.15% 0.10%
RBC Jantzi Global Equity Fund – Series A 0.20% 0.15%

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Other changes

Effective on or about June 30, 2017, RBC GAM (UK) will become the sole sub-advisor of the RBC Jantzi Global Equity Fund.

Subject to unitholder and regulatory approval, RBC GAM proposes changing the investment objective of the RBC Jantzi Balanced Fund to provide the fund with the flexibility to invest its assets primarily in units of other funds that are managed by RBC GAM or an affiliate.

Subject to unitholder and regulatory approval, RBC GAM proposes changing the investment objectives and benchmarks for the RBC Index Funds as follows:

RBC Index Fund Proposed investment objective change
RBC Canadian Government Bond Index Fund Provide the funds with the flexibility to track the performance of their benchmark indexes by investing either directly in fixed-income and equity securities or indirectly through derivatives or investment in units of other mutual funds managed by RBC GAM or an affiliate.
RBC Canadian Index Fund
RBC U.S. Index Fund
RBC U.S. Index Currency Neutral Fund
RBC International Index Currency Neutral Fund
RBC Index Fund Proposed benchmark change
RBC Canadian Government Bond Index Fund* Change to a benchmark that tracks the performance of the broad Canadian bond market, including government and corporate bonds.* Proposed benchmark: FTSE TMX Canada Universe + Maple Bond Index
RBC Canadian Index Fund Change to a new benchmark that continues to track the performance of the Canadian equity market. Proposed benchmark: FTSE Canada All Cap Domestic Index
RBC U.S. Index Fund Change to a new benchmark that continues to track the performance of the U.S. equity market in Canadian dollar terms. Proposed benchmark: FTSE USA Index
RBC U.S. Index Currency Neutral Fund Change to a new benchmark that continues to track the performance of the U.S. equity market in U.S. dollar terms. Proposed benchmark: FTSE USA Hedged 100% to CAD Index
RBC International Index Currency Neutral Fund Change to a new benchmark that continues to track the performance of international equity markets in local currency terms. Proposed benchmark: FTSE Developed ex North America Hedged 100% to CAD Index
* If approved, the name of the fund will change to RBC Canadian Bond Index Fund.

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