RBC Asset Management announces amendments to its portfolio solutions and changes name of RBC Global Titans Fund
RBC Asset Management Inc. (RBC AM) today announced the following changes to RBC Select Portfolios, RBC Select Choices Portfolios, RBC Cash Flow Portfolios, RBC Target Education Funds and RBC Global Titans Fund. These changes will be effective July 1, 2007, following the renewal of the RBC Funds 2007 Simplified Prospectus.
RBC Select Portfolios, RBC Select Choices Portfolios, RBC Cash Flow Portfolios, and RBC Target Education Funds (the “Portfolios”)
Effective July 1, 2007, portfolio managers of the Portfolios will be permitted to invest in any fund in the RBC Funds family. This change provides greater flexibility for RBC Asset Management to respond to changing market conditions on a more timely basis, within the established investment objective and strategies of the Portfolios. Each Portfolio will invest in eight to twelve individual funds. Portfolio managers of the RBC Select Choices Portfolios will also be able to invest in any third-party managed mutual fund and will continue use the screening process employed by the RBC Mutual Fund Research team.
The simplified prospectus of each of the Portfolios and Target Funds will disclose the target weights of each asset class. Current holding information is available on the RBC AM website at www.rbcam.com and will continue to be updated monthly.
RBC Global Titans Fund changes name to RBC Global Dividend Growth Fund
Effective July 1, 2007, the RBC Global Titans Fund will change its name to the RBC Global Dividend Growth Fund. The new name more clearly reflects the Fund’s mandate to invest in strong global companies with the ability to grow their dividends over time. There is no change in the investment objectives or investment process of the Fund.
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