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Welcome to the RBC Global Asset Management site for Institutional Investors

In order to proceed to the site, please accept our Terms & Conditions.

Please read the following terms and conditions carefully. By accessing and any pages thereof (the "site"), you agree to be bound by these terms and conditions as well as any future revisions RBC Global Asset Management Inc. ("RBC GAM Inc.") may make in its discretion. If you do not agree to the terms and conditions below, do not access this website, or any pages thereof. Phillips, Hager & North Investment Management is a division of RBC GAM Inc. PH&N Institutional is the institutional business division of RBC GAM Inc.

No Offer

Products and services of RBC GAM Inc. are only offered in jurisdictions where they may be lawfully offered for sale. The contents of this site do not constitute an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.

No information included on this site is to be construed as investment advice or as a recommendation or a representation about the suitability or appropriateness of any product or service. The amount of risk associated with any particular investment depends largely on the investor's own circumstances.

No Reliance

The material on this site has been provided by RBC GAM Inc. for information purposes only and may not be reproduced, distributed or published without the written consent of RBC GAM Inc. It is for general information only and is not, nor does it purport to be, a complete description of the investment solutions and strategies offered by RBC GAM Inc., including RBC Funds, RBC Private Pools, PH&N Funds, RBC Corporate Class Funds and RBC ETFs (the "Funds"). If there is an inconsistency between this document and the respective offering documents, the provisions of the respective offering documents shall prevail.

RBC GAM Inc. takes reasonable steps to provide up-to-date, accurate and reliable information, and believes the information to be so when published. Information obtained from third parties is believed to be reliable, but no representation or warranty, express or implied, is made by RBC GAM Inc., its affiliates or any other person as to its accuracy, completeness, reliability or correctness. RBC GAM Inc. assumes no responsibility for any errors or omissions in such information. The views and opinions expressed herein are those of RBC GAM Inc. and are subject to change without notice.

About Our Funds

The Funds are offered by RBC GAM Inc. and distributed through authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with the Funds. Please read the offering materials for a particular fund before investing. The performance data provided are historical returns, they are not intended to reflect future values of any of the funds or returns on investment in these funds. Further, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The unit values of non-money market funds change frequently. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual fund securities are not guaranteed by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns.

About RBC Global Asset Management

RBC Global Asset Management is the asset management division of Royal Bank of Canada ("RBC") which includes the following affiliates around the world, all indirect subsidiaries of RBC: RBC GAM Inc. (including Phillips, Hager & North Investment Management and PH&N Institutional), RBC Global Asset Management (U.S.) Inc., RBC Global Asset Management (UK) Limited, RBC Global Asset Management (Asia) Limited, BlueBay Asset Management LLP, and BlueBay Asset Management USA LLC.

Forward-Looking Statements

This website may contain forward-looking statements about general economic factors which are not guarantees of future performance. Forward-looking statements involve inherent risk and uncertainties, so it is possible that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution you not to place undue reliance on these statements as a number of important factors could cause actual events or results to differ materially from those expressed or implied in any forward-looking statement. All opinions in forward-looking statements are subject to change without notice and are provided in good faith but without legal responsibility.

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Filing a complaint with RBC Global Asset Management Inc. (RBC GAM Inc.)

A complaint relating to RBC GAM Inc.’s services or its representatives may be communicated to RBC GAM Inc. verbally or in written form. In its complaint, a client should tell RBC GAM Inc.what went wrong; when it happened; and what type of remediation the client expects from RBC GAM Inc..  All complaints will be given equal consideration; however, if a client raises an issue verbally, it may not be readily apparent that the client is making a complaint. RBC GAM Inc. may ask the client to clarify a verbal complaint and, if applicable, put the complaint in writing.  Complaints may be submitted in writing to: 

RBC Global Asset Management Inc.
Complaints Team
200 Burrard Street, 20th Floor
Vancouver, BC V6C 3N5
Attention:  Managing Director & Head, PH&N Institutional

If client is a Quebec resident:

A client resident in Quebec who has submitted a written complaint to RBC GAM Inc. may at any time during the complaint process described below request that RBC GAM Inc. refer the client’s complaint file to the Autorité des marchés financiers (“AMF”). Further information on this option is provided below. 

RBC GAM Inc. will acknowledge the complaint

RBC GAM Inc. will acknowledge the client’s complaint in writing, as soon as possible, but no later than five (5) business days of receipt of the complaint. RBC GAM Inc. may ask the client to provide clarification or more information to help resolve the complaint.  If RBC GAM Inc. asks for more information, the client should reply promptly and should also asked to keep copies of all relevant documents, such as letters, emails and notes of conversations with RBC GAM Inc..

RBC GAM Inc. will create a complaint file

A separate file will be created with each complaint containing the following: the complaint and all documents sent by the client; the outcome of the complaint investigation (as detailed below); and a copy of RBC GAM Inc.'s final written decision and explanation of the reasons for the decision, as sent to the client. RBC GAM Inc. will register the client complaint in its complaint register. A client may request to have the complaint file examined. 

RBC GAM Inc. will investigate the complaint and make a decision

Upon receipt of a complaint, RBC GAM Inc. will investigate the complaint and provide a decision in writing within ninety (90) days of receiving the complaint. RBC GAM Inc.’s decision will include a summary of the complaint, the results of its investigation, its decision to make an offer to resolve the complaint or deny it, and an explanation of its decision.

If RBC GAM Inc. cannot provide a decision within ninety (90) days of receipt of the complaint, RBC GAM Inc. will inform the client of the delay, explain why the decision is delayed and give the client a new date for RBC GAM Inc.’s decision.

If RBC GAM Inc. does not provide you with its decision within ninety (90) days or if the client is not satisfied with RBC GAM Inc.’s decision within 180 days of the decision after RBC GAM Inc. provides it, a client resident in a Canadian jurisdiction other than Quebec may be eligible for free independent dispute resolution and mediation service offered by the Ombudsman for Banking Services and Investments (“OBSI”). Further information on this option is provided below. 

Independent Dispute Resolution and Mediation Service

For clients resident in Canadian jurisdictions other than Quebec:

Filing a complaint with OBSI

A client may escalate their complaint directly to the OBSI, at no cost to the client, where:

  • RBC GAM Inc. has not provided its decision within ninety (90) days after the client made a complaint; or
  • the client is not satisfied with the decision and escalates to the OBSI within 180 days of receiving RBC GAM Inc.’s written decision;
  • the client is either an individual or an entity that is not a “permitted client” as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations;
  • the complaint relates to a trading or advising activity of RBC GAM Inc. or a representative of RBC GAM Inc. and was brought to RBC GAM Inc. within six (6) years from the time that the client first knew, or ought to have known, about the event that caused the complaint; and
  • the client agrees that the amount of compensation the OBSI can recommend will not exceed $350,000. (If a client wants to recover more than $350,000, the client may wish to take its complaint to a dispute resolution service of its choice, at its own expense, or bring an action in court.)

OBSI will investigate a client’s complaint

OBSI works confidentially and in an informal manner.  It is not like going to court, and the client does not need a lawyer.  During its investigation, OBSI may interview the client and representatives of RBC GAM Inc..  RBC GAM Inc. is required to cooperate in OBSI’s investigations.  Once OBSI has completed its investigation, it will provide its recommendations to the client and to RBC GAM Inc..  OBSI’s recommendations are not binding on the client or on RBC GAM Inc..  OBSI can be contacted by email at; or by toll-free telephone at 1-888-451-4519. For more information about the OBSI process, visit 

For clients resident in Quebec:

A client resident in Quebec who has submitted a written complaint to RBC GAM Inc. may at any time during the complaint process described above request that RBC GAM Inc. refer the client’s complaint file to the AMF as described below.

For the purposes of this section, a complaint is the expression of one of the following three (3) elements, which persists after being considered and examined by RBC GAM Inc.:

  • a reproach against RBC GAM Inc.;
  • the identification of real or potential harm that a client has experienced or may experience; or
  • a request for remedial action.

A complaint must meet the following conditions:

  • relate to trading or advising activity of RBC GAM Inc. or one of its representatives; and
  • is received by RBC GAM Inc. within six (6) years of the day when the client first knew or reasonably ought to have known of an act or omission that is a cause of or contributed to the complaint.

An initial expression of dissatisfaction by a client, whether in writing or otherwise, will not be considered a complaint where the issue is resolved as part of RBC GAM Inc.’s regular course of business. However, in the event the client remains dissatisfied and such dissatisfaction is referred to the person who is responsible for the examination of complaints, then it will be considered a complaint.

Transfer of complaint to AMF

At any time during the complain process, or if the client is not satisfied with the outcome or with the investigation of the complaint, the client may request that RBC GAM Inc. transfer to the AMF the complaint file that RBC GAM Inc. created upon receipt of the client’s complaint.  The AMF may, with the consent of RBC GAM Inc. and the client, act as conciliator or mediator or designate a person to act as such.  The AMF may be contacted by toll-free telephone at 1-877-525-0337. For more information about the AMF process, visit

Annual report

Once a year, RBC GAM Inc. will use the E-Services to file a report with the AMF detailing the number and type of complaints received. Such a report will be filed regardless of whether any complaints were received.

Client may pursue legal action

A client may choose to bring its complaint directly to RBC GAM Inc., and if eligible to the OBSI or the AMF, or it may choose to bring a legal action in court, or both.  A lawyer can advise a client of its options, including of any statutory time limits for commencing a legal action.  Delays could limit a client’s options and legal rights later on.