Assets under management (AUM): $582.73M (in US$ millions) - See other performance data below
General Fund Type: Bond (Fixed Income)
Specific Sizes or Types of Investments: --
Financial Objective: double-bottom line investing
Specific ESG Focus: Impact investing that provides the double-bottom line benefit of aiding underserved communities while seeking to earn a market rate of return through the support of low- and moderate-income home buyers, affordable rental housing units, small business administration loans and economic development projects.
To invest, call: 617-236-7314
RBC Global Asset Management
Mutual Funds Description: RBC Global Asset Management is the asset management division of Royal Bank of Canada (RBC), operating under the following brands: RBC Global Asset Management (RBC GAM) in Canada, the U.S. (institutional), the U.K. and Hong Kong; Phillips, Hager & North Investment Management (institutional); and BlueBay Asset Management (institutional). With offices around the world, RBC GAM offers a full range of global investment solutions in cash management and fixed income, equity, balanced, alternative and specialty investment strategies through mutual funds, hedge funds, pooled funds and separately managed accounts. The RBC GAM group of companies has more than C$318 billion (US$299 billion) in assets under management as at December 31, 2013. RBC purchased Phillips, Hager & North Investment Management, including the assets of BonaVista Asset Management, on May 1, 2008, and BlueBay Asset Management on December 17, 2010. A complete list and description of the firm’s composites and performance results is available upon request. RBC Global Asset Management (US) Inc offers the Access Capital Community Investment Strategy, which provides a high quality disciplined approach to fixed income investing with a community development purpose. Retail and institutional investors are provided an opportunity to make a difference, directing scarce investment capital to projects and programs that matter through fixed income investments selected in consideration of safety, liquidity and yield. The strategy provides investors with a tailored program of high quality securities supporting affordable housing, healthcare, education and job creation in underserved communities targeted by the investor. www.rbcgam.us
Minimum Account: $2,500 ($100 for Automatic Investment Plan)
Screening Venue: In-house
Portfolio Management Team
Screening Database Used:
All of our investments go through a screening process to determine if the loans meet the investment objectives of the Fund. We ensure that there are no high cost loans in the portfolio and we verify low-and-moderate incomes at the loan level (all loans are for LMI individuals are at or below 80% of the area median income (AMI)). Additionally, we support Section 8 housing and look for SBA and USDA loans to support economic and job development. The Fund has developed partnerships with various State Housing Finance Agencies to assist LMI individuals and first time home buyers. All investments are government guaranteed or of the highest credit quality and support economic activity in targeted U.S. geographies that are designated by Fund Investors. Our focus is affordable housing, small business lending to spur job creation, community development and healthcare facilities. All investments in the Fund qualify for Investment Test Credit from the regulatory agencies under the Community Reinvestment Act (CRA).
Proxy Voting Guidelines or Policies: Not Applicable
Proxy Voting Records: Not Applicable
- Pollution / Toxics: No Investment
- Community Development: Positive Investment - SRI that helps build stronger communities through its support of low and moderate income homebuyers, affordable rental housing, small business lending and other economic development projects. Investors can target their investments by geographic location.
- Conflict Risk: No Investment
- Alcohol: No Investment
- Animal Welfare: No Investment
- Defense/Weapons: No Investment
- Gambling: No Investment
- Tobacco: No Investment
- Other/Qualitative: All investments are screened for social benefits (Housing, Healthcare, Education, Sevices and Jobs).
Year-to-date rate of return: 1.88%
1-year rate of return: 2.94%
3-year rate of return: 0.79%
5-year rate of return: 1.86%
10-year rate of return: 2.56%
Previous year rate of return: -0.41%
Management fee: 0.5%
Expense ratio: 1.01%
Standard deviation: 2.59%
Benchmark used: Barclays Capital US Securitized Bond | External link (Opens in a new window)
Disclaimer: Before investing, you should carefully consider a fund’s investment objectives, risks, charges and expenses. This and other information is included in the prospectus, which you can request by visiting https://us.rbcgam.com/mutual-funds/literature/content/default.fs or calling 800.422.2766. Please read the prospectus carefully before investing. RBC Global Asset Management (U.S.) Inc. serves as investment adviser for RBC Funds. The RBC Funds are distributed by Quasar Distributors, LLC. NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE.