News - RBC Asset Management Endorses New Independent Fund Governance Rule

RBC Asset Management today endorsed the new independent fund governance rule issued by the Canadian Securities Administrators, National Instrument 81-107 – Independent Review Committee for Investment Funds.

“I would like to congratulate all of the Canadian Securities Administrators for working together to arrive at a fund governance rule with Canada-wide application,” said George Lewis, chair and chief executive officer of RBC Asset Management Inc. “This instrument will provide Canadian mutual fund investors with additional investor protection through enhanced governance of the very large, and still growing, Canadian mutual fund industry.”

Since 1994, an Advisory Board of Governors has provided advice to RBC Asset Management, the manager of the RBC Funds and RBC Private Pools. “Having adopted and operated this governance model on a voluntary basis over a long period of time, RBC Asset Management is well-positioned for NI 81-107,” said Mr. Lewis. “Our most important commitment is to our investors. RBC Asset Management has seen first-hand the benefits to our funds’ investors of independent input on conflict of interest matters. Governors representing the interests of investors from all regions of Canada provide an essential element of our success, which rests on strong ethics, compliance and good governance.”