Mutual Fund Affiliates
Like many securities firms, RBC CM receives payments from fund affiliates. RBC CM uses this money for general marketing and Financial Advisor educational programs, to offset compliance and product management costs, and to support client education programs and seminars. In return for the payments, fund companies are given access to our branch offices for the purpose of educating our Financial Advisors and informing them about available products. Our Financial Advisors do not receive any extra commission for selling funds from these companies. Each Financial Advisor individually evaluates the funds and then works with you to choose the appropriate investment for your financial needs.
The fund affiliates generally make these payments, which may be based on assets and/or sales volume, to RBC CM via the fund’s distributor, investment advisor, or other entity from the management fees they earn. More information on payments may be found in a fund’s prospectus or Statement of Additional Information (SAI). Financial Advisors may receive a portion of these payments for distribution and servicing expenses related to shares of money market funds included as sweep options to cash accounts. The payment formula is consistent for Financial Advisors on all of these funds.
The following list represents the fund affiliates making asset and/or sales-based financial payments to RBC CM, in order of financial contribution, from January 1, 2011, to October 31, 2011: RBC Funds Trust, Federated, American Funds, Thornburg, Franklin Templeton, Blackrock, Oppenheimer, Fidelity Advisors, Ivy Mackenzie, Russell Fund Distributors, Dreyfus, Hartford, JP Morgan Funds, Pioneer, Putnam, Invesco, John Hancock, Lord Abbett, Henderson Funds, AllianceBernstein, Goldman Sachs, DWS Scudder Funds, ING Funds, Wells Fargo FDS, Allianz Distributors LLC, Pimco, Eaton Vance, Principal Funds, Delaware, IVA Funds, Prudential, Columbia Funds, Calamos Funds, Sentinel Funds, First Eagle, Legg Mason, First Trust, Janus, Marshfield, Lazard Funds, Alpine, Mainstay, Octavus, American Century, MPMG, Neuberger & Berman, Riverfront Funds, Brandes, NATIXIS Funds, William Blair & Co, RS Funds, Anchor Capital, Eagle Funds, Gabelli, Tocqueville, Wentworth, Hauser & Violich, Rydex SGI, SeaCap Investments, Placemark, TCW Galileo Funds, Cohen & Steers, MFS, Nuveen Flagship Funds, Wasatch, Keeley Investments, Sunamerica, Touchstone, Transamerica Premier, Alger, Riversource Funds, Highland Funds, Atalanta Sosnoff Capital, Davis Funds, Matthews International, ICON Mutual Funds, Baron, Buffalo Funds, Van Eck, Guggenheim Funds, Direxion Funds, Virtus Investments, Quaker Funds, Manning and Napier Funds, Roosevelt, Advisors Asset Management, Alps Funds, Frontier Funds, Managers, Stadion, Harbor Funds, Causeway Funds, Cullen Funds, American Beacon, Olstein Funds, Integrity, AQR Funds, Powershares, Vanguard, Arrow Funds, Calvert, PNC Funds, iShares, Equinox, PMC Funds, DoubleLine Funds, Intrepid Capital Funds, Aquila, Kinetics Asset Mgmt Inc, SSGA Funds, Nationwide/Gartmore, Ridgeworth, Tortoise, Payden and Rygel, Loomis Sayles Funds, Amana Funds, Highmark, Aston, Rice Hall James, Astor, Navellier, Reaves Asset Management, Turner Funds, Cambiar Funds, Guardian, State Street Global Advisors, Barclay, Altegris Funds, Artisan Funds, ISI, Royce, Third, Princeton, Dividend Growth, SouthernSun Funds, Pear Tree Funds, ADP Distributors, Burnham Funds, Van Kampen, FAM, Dunham & Associates Investment, Logan Capital, Revenue Shares, Mutual Hedge Frontier Legends, One Group, Leuthold, Profunds, Jennisen Dryden, Pacer Financial, Multi Funds, Sector SPDR, Campbell & Co., Auer Funds, Montage Investments, Schroders, Lipper Smart Growth Fund, Smartgrowth funds, Lincoln Financial, Oakmark, American Legacy, AIS Capital, Keystone Funds, Catalyst Funds, Millburn Managed Futures, Quant Funds, ProShares, Guinness Atkinson Funds, Good Harbor Financial, Blackstone, Transparent Value, PDI Financial Group, Claymore Securities, PAX World Funds, Fifth Third Funds, Forward Funds, Wellesley Investment Advisors, Gateway Funds, Geneva Funds, Four Seasons, Old Mutual Funds, Merk Funds, James Advantage Funds, Pacific Funds, Diamond Hill Funds, Victory, AXA Premier Funds, Satuit Capital, Marketfield Funds, Ocean State, Snow Capital, Armada Funds, Williston Basin, AIM, PVG Asset Mgmt, Salient, IXIS, TS Capital Apollo Funds, Princor, Folio Metrics Mutual fund, and Munder Funds.
RBC CM also receives payments to help offset the cost of managing shareholder accounts, a cost that is typically, but not always, borne by a fund’s transfer agent. These expenses include sending shareholder statements, maintaining shareholder records and performing regulatory mailings. The following list represents the fund affiliates making payments that can be based on either a per-account fee or asset-based position fee, in order of total payment received, from January 1, 2011, to October 31, 2011: American Funds, Franklin Templeton, Thornburg, Blackrock, Ivy Mackenzie, Fidelity Advisors, T Rowe Price, NATIXIS Funds, Calamos Funds, First Eagle, Artisan Funds, Davis Funds, Oppenheimer, Lord Abbett, Pimco, Pioneer, JP Morgan Funds, Invesco, Federated, Royce, Allianz Distributors LLC, Eaton Vance, ING Funds, Henderson Funds, John Hancock, MFS, Legg Mason, AllianceBernstein, Hartford, Turner Funds, Columbia Funds, Wells Fargo FDS, Putnam, Eagle Funds, Mainstay, Virtus Investments, Nuveen Flagship Funds, Dreyfus, Transamerica Premier, Prudential, DWS Scudder Funds, Goldman Sachs, Russell Fund Distributors, Rydex SGI, American Century, Delaware, Keeley Investments, Third, Principal Funds, Riversource Funds, Sentinel Funds, Janus, Cohen & Steers, Munder Funds, FPA Funds, RS Funds, Diamond Hill Funds, Touchstone, AQR Funds, Permanent Portfolio, Matthews International, Calvert, Alger, Buffalo Funds, Neuberger & Berman, Arrow Funds, Sunamerica, Kinetics Asset Mgmt Inc, Security, Leuthold, Forward Funds, Tocqueville, Arbitage Funds, Pacific Funds, Wasatch, Sterling Capital, Stadion, Highmark, Cullen Funds, Wentworth, Hauser and Violich, Managers, First American, Mutual Hedge Frontier Legends, Dividend Growth, Caldwell & Orkin, William Blaire & Co, Aquila, Jensen Funds, Manning and Napier Funds, DoubleLine Funds, Aberdeen Funds, Profunds, Harding Loevner Funds, Roosevelt Funds, Hotchkis & Wiley, Amana Funds, RBC Funds Trust, Thompson Plumb Growth Fund, Old Mutual Funds, Harbor Funds, LoCorr Funds, Integrity, Intrepid Capital Funds, Astor, New Alternatives, Cambiar Funds, Westwood Holdings Group, ICON Mutual Funds, Dunham & Associates Investment, Keystone Funds, Guinness Atkinson Funds, Driehaus Securities Corp, Charles Schwab & Co, Nationwide/Gartmore, Boston Trust & Walden, American Beacon, Conestoga Funds, Osterweis Funds, Tweedy Browne, AL Frank Funds, Satuit Capital, SSGA Funds, Nakoma, Rainier, Liberty Street Horizon, Akre, Fifth Third Funds, Reaves Asset Management, Geneva Funds, OCM Gold Fund, SouthernSun Funds, Oak Associates, Payden and Rygel, Earnest Partners, Commonwealth, Direxion Funds, PMC Funds, FAM, Rice Hall James, Marketfield Funds, CRA Qualified Investment Fund, and Causeway Funds.
This information is updated annually. Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. Prospectuses containing this and other information about the fund are available by contacting your Financial Advisor. Please read the prospectus carefully before investing to make sure that the fund is appropriate for your goals and risk tolerance.