IAP calls on regulators to eliminate embedded compensation

Toronto-based RBC Global Asset Management Inc. (RBC GAM) has announced it will lower administration fees for multiple RBC and PH&N funds.

The fee reductions for the following funds became effective Monday:

  • RBC Emerging Markets Dividend Fund
  • RBC Emerging Markets Equity Fund
  • RBC Emerging Markets Small-Cap Equity Fund
  • RBC Emerging Markets Equity Class

In addition, the administration fee for Series O units of Phillips, Hager and North Overseas Equity Fund; Phillips, Hager and North Currency-Hedged Overseas Equity Fund; Phillips Hager and North Overseas Equity Pension Trust; and Phillips, Hager and North Global Equity Fund are being lowered to 0.02%.

RBC GAM’s administration fees cover the cost of regulatory filing fees, recordkeeping, accounting and fund valuation costs, custody fees, audit and legal fees, the expense of preparing and distributing annual and semi-annual reports, prospectuses, Fund Facts, statements and other investment communications, the firm says in a news release.

Further details regarding fee reductions are available in the firm’s news release.

Photo copyright: andreypopov/123RF