The company said that unitholders approved an amendment to theRBC North American Dividend Fund’s investment objectives that would permit the fund to fully invest its assets in common and preferred shares of U.S. companies with above average dividend yields.
The change is expected to provide the fund with targeted exposure to opportunities in US equity markets and additionally, the fund will be renamed RBC US Dividend Fund.
The company added that unitholders approved an amendment to the PH&N High Yield Bond Fund’s investment objectives that would permit the fund to invest primarily in a well-diversified portfolio of fixed income securities issued by Canadian and/or foreign governments and corporations.
The change will provide the fund with an universe of investment opportunities and will allow the fund to continue to provide a high level of income with the potential for capital growth.
