RBC Funds Inc. is reducing the management fees for its F-Series Royal Mutual Funds and RBC Advisor Funds. This new fee structure will be implemented January 1, 2003.

Generally, the revised management fees for F- Series funds are as follows: Equity Funds, 75 bps; Fixed Income Funds, 50 – 75 bps; and, Money Market Funds are 50 bps.

“We have seen steady growth in our F class offerings, despite being hampered by difficult equity markets over the past two years,” says Brenda Vince, president and COO, RBC Funds Inc. “F-Series funds in fee-based accounts offer greater fee transparency with advisors being directly compensated for providing portfolio advice to their clients.”

In a fee-based account, the client pays a fee directly to their advisor for advice and service. “We are pleased to assist advisors seeking to transition appropriate clients to a fee-based model,” says Vince. “The lower F-Series fees will allow
advisors to be fully compensated for their advice without any increase in the overall cost to their clients.”