RBC Global Asset Management announced the reduced administration fees to four of its funds.
The asset management division of the Royal Bank of Canada said in a statement released Friday that the fee reductions for the four funds—short-term income fund, balanced fund, Canadian dividend fund and Canadian dividend class—will be effective January 1.
RBC GAM explained that the firm “reviews administration fees on an ongoing basis” and the “reductions are part of [its] ongoing commitment to investors to ensure [that it] remain[s] a leaders in delivering excellent value to clients."
eVestment reported earlier this month that it eliminated the management fees charged on assets purchased with borrowed capital for two of its funds, which has been effective since November 27.
RBC GAM manages more than $295 billion in assets, and has about 1,000 employees in offices across Canada, the U.S., Europe and Asia.