{"id":471054,"date":"2021-04-05T16:03:34","date_gmt":"2021-04-05T20:03:34","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=471054"},"modified":"2021-04-05T16:03:34","modified_gmt":"2021-04-05T20:03:34","slug":"rbc-global-asset-management-inc-announces-the-closure-of-three-funds","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rbc-global-asset-management-inc-announces-the-closure-of-three-funds\/","title":{"rendered":"RBC Global Asset Management Inc. announces the closure of three Funds"},"content":{"rendered":"
\n

Canada NewsWire<\/p>\n<\/p><\/div>\n

\n

\n TORONTO<\/span>, April 5, 2021<\/span> \/CNW\/ – RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced the closure of BlueBay $U.S. Global Convertible Bond Fund (Canada<\/span>), BlueBay $U.S. Global Convertible Bond Class (Canada<\/span>), and RBC Global Bond & Currency Fund (together, “the Funds”) effective June 25, 2021<\/span>.<\/p>\n

Unitholders may redeem or switch their holdings in the Funds until market close on June 23, 2021<\/span>. Any remaining units will be redeemed and the proceeds distributed to unitholders.<\/p>\n

In the case of the Funds being held in registered plans, the redemption proceeds will remain within the plan unless unitholders instruct otherwise in advance of market close on June 23, 2021<\/span>. There will be no tax implications as a result of the transactions if units are held in a registered plan.<\/p>\n

If units of the Funds are held in a non-registered account, the closure of the Funds will be treated as a deemed disposition, and may result in a taxable capital gain or loss, depending on each unitholder’s individual situation.<\/p>\n

Unitholders are encouraged to contact their advisor to discuss the closures and their investment options.<\/p>\n

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 Corporate Class Funds are offered by RBC GAM Inc. and distributed through authorized dealers in Canada<\/span>. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada<\/span>.<\/p>\n

\n About RBC
<\/b>Royal Bank of Canada<\/span> is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s<\/span> biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada<\/span>, the U.S. and 34 other countries. Learn more at\u00a0rbc.com<\/a><\/u>.\u200e<\/p>\n

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com\/community-social-impact<\/a><\/u>.<\/p>\n

\n About RBC Global Asset Management
<\/b>
\n
\n RBC Global Asset Management<\/a>
\n <\/u>\u00a0(RBC GAM) is the asset management division of Royal Bank of Canada<\/span> (RBC) and includes 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 approximately $540 billion<\/span> in assets and have approximately 1,400 employees located across Canada<\/span>, the United States<\/span>, Europe<\/span> and Asia<\/span>.<\/p>\n

SOURCE RBC Global Asset Management Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada NewsWire TORONTO, April 5, 2021 \/CNW\/ – RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced the closure of BlueBay $U.S. Global Convertible Bond Fund (Canada), BlueBay $U.S. Global Convertible Bond Class (Canada), and RBC Global Bond & Currency Fund (together, “the Funds”) effective June 25, 2021. Unitholders may redeem or switch their holdings in the Funds until market close on June 23, 2021. Any remaining units will be redeemed and the proceeds distributed to unitholders. In the case of the Funds being held in registered plans, the redemption proceeds will remain within the plan unless unitholders instruct otherwise in advance of market close on June 23, 2021. There will be no tax implications as a result of … <\/p>\n

Continue reading “RBC Global Asset Management Inc. announces the closure of three Funds”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-471054","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRBC Global Asset Management Inc. announces the closure of three Funds - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rbc-global-asset-management-inc-announces-the-closure-of-three-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBC Global Asset Management Inc. announces the closure of three Funds - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire TORONTO, April 5, 2021 \/CNW\/ – RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced the closure of BlueBay $U.S. Global Convertible Bond Fund (Canada), BlueBay $U.S. Global Convertible Bond Class (Canada), and RBC Global Bond & Currency Fund (together, “the Funds”) effective June 25, 2021. Unitholders may redeem or switch their holdings in the Funds until market close on June 23, 2021. Any remaining units will be redeemed and the proceeds distributed to unitholders. In the case of the Funds being held in registered plans, the redemption proceeds will remain within the plan unless unitholders instruct otherwise in advance of market close on June 23, 2021. 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