(April 20 – 13:15 ET) – RBC Global Investment Management Inc. will assume the direct investment management responsibility for the Zweig Strategic Growth Fund and Zweig Global Balanced Fund.

The Zweig Strategic Growth Fund, which invests primarily in small-sized U.S. companies, will be renamed the Royal U.S. Mid-Cap Equity Fund, to reflect an intended change in investment objective to focus on medium-sized U.S. companies. This fund and the renamed Royal Global Balanced Fund will continue to be positioned to take advantage of global investment opportunities and serve the needs of unitholders of the two funds.

The Royal U.S. Mid-Cap Equity Fund will be managed by the U.S. equities team at RBC GIM, led by Ray Mawhinney, vice-president and portfolio manager. The RBC GIM U.S. Equity Committee manages more than $3.4 billion in U.S. equities. Mr. Mawhinney, the chair of the committee, brings a proven track record in managing U.S. equities and achieving strong returns.

The Royal Global Balanced Fund will be managed by the Investment Policy Committee of RBC GIM, which brings together the lead investment managers in RBC GIM’s areas of expertise – Global Fixed Income and Currencies, Canadian Equities, U.S. Equities and International Equities. The committee, chaired by Mark Arthur, president and chief investment officer of RBC GIM, also manages the Royal Balanced Fund, which currently has $7.1 billion in assets under management.
-IE Staff