RBC Global Asset Management (GAM) will cap 11 mutual funds to new investors as of Sept. 15.
The asset management company said Tuesday that the following funds managed by its global equity team will close to new investors:
- RBC Global Equity Fund
- RBC Vision Global Equity Fund
- RBC Global Equity Focus Fund
- RBC Global Equity Class
- RBC Global Equity Focus Currency Neutral Fund
- RBC Global Dividend Growth Fund
- RBC Global Dividend Growth Currency Neutral Fund
- Phillips, Hager & North Global Equity Fund
- Phillips, Hager & North Overseas Equity Fund
- Phillips, Hager & North Currency-Hedged Overseas Equity Fund
- Phillips, Hager & North Overseas Equity Class
The funds have attracted “significant assets” both from individual and institutional investors, the firm stated in a press release. “Closing these funds to new investors will protect the RBC Global Equity Team’s ability to continue executing its investment process within existing liquidity conditions.”
Current fund unitholders will still be able to invest in the funds after they’re capped next week, the company noted.
New investors have until 4:00 p.m. EST on Sept. 15 to purchase the funds.