RBC Life Science and Technology Fund
Printed on April 21, 2015 RBC Life Science and Technology Fund No. of Funds in Category 502 Fund Category US Equity Morningstar Rating™ QQQQQ Investment Objective Portfolio Analysis as of March 31, 2015 To provide long-term capital growth by investing primarily in equity securities of U.S. companies whose businesses relate to life sciences and technology and are expected to benefit from scientific and technological advances. Asset Mix % Assets Cash 1.5 Fixed Income 0.0 Canadian Equity 0.6 US Equity 90.5 International Equity 7.4 Other 0.0 Fund Details Series Load Structure Currency Fund Code D No Load CAD RBF1030 Equity Style Income Distribution Capital Gains Distribution Annually Annually Sales Status Min. Investment $ Subsequent Investment $ Open 500 25 Management Company RBC Global Asset Management Inc. www.rbcgam.com Web Site Equity Statistics P/B Ratio P/E Ratio 4.3 23.6 Avg. Mkt Cap. $B 38.1 Small July 2007 202.7 14.51 1.20 50% S&P 500 Health Care 50% S&P 500 Info Tech (measured in C$) Large Mid Inception Date Total Fund Assets $Mil Series D NAV $ Series D MER % Benchmark Value Blend Growth Global Equity Sectors % Equity Health Care Information Technology Consumer Discretionary Utilities Telecommunication Services Unclassified Financials Industrials Materials Energy Consumer Staples 49.5 49.2 1.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Top 25 Holdings % Assets Apple Inc Google Inc Class A Facebook Inc Class A AmerisourceBergen Corp Palo Alto Networks Inc 8.7 2.4 2.2 1.7 1.5 Waters Corp Aetna Inc Cognizant Technology Solutions Crp Cl A Pfizer Inc Avago Technologies Ltd 1.5 1.5 1.5 1.5 1.5 Medtronic PLC Actavis PLC Twitter Inc Salesforce.com Inc Bristol-Myers Squibb Company 1.5 1.4 1.4 1.4 1.4 Texas Instruments Inc Cigna Corp Monolithic Power Systems Inc PerkinElmer Inc Boston Scientific Inc 1.3 1.3 1.3 1.3 1.3 Hologic Inc Amazon.com Inc Laboratory Corp of America Hldgs Cavium Inc TE Connectivity Ltd 1.3 1.3 1.2 1.2 1.2 Total % of Top 25 Holdings Total Number of Stock Holdings Total Number of Bond Holdings Total Number of Other Holdings Total Number of Holdings 43.9 98 0 1 99 Performance Analysis as of March 31, 2015 30 26 22 Growth of $10,000 Series D $24,735 18 14 10 6 50 25 Calendar Returns % Series D 0 -25 -50 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD — — — — — — -28.6 3rd 27.4 1st 12.6 1st -2.2 3rd 8.3 4th 50.6 1st 28.1 1st 16.6 1st Fund Quartile 1 Mth 3 Mth 6 Mth 1 Yr 3 Yr 5 Yr 10 Yr Since Incep. Trailing Return % 1.8 1st 1029 16.6 1st 989 28.9 1st 951 36.2 1st 825 27.9 1st 502 21.7 1st 377 — — 176 12.1 — — Fund Quartile No. of Funds in Category ©2015. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. These pages are not complete without the disclosure page. Printed on April 21, 2015 RBC Life Science and Technology Fund Management Overview Manager Bios Performance Analysis Cont'd as of March 31, 2015 Ray Mawhinney Distributions ($)/Unit RBC Global Asset Management Inc. Total Distributions Interest Dividends Capital Gains Return Of Capital Ray Mawhinney is Senior Vice President, U.S. and Global Equities. He has been in the investment industry since 1984. Best/Worst Periods % YTD* 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Ended 1 Yr Ended 2-2014 2-2015 Best 57.0 11-2008 8-2010 Worst -29.7 Average 13.4 No. of Periods 81 Pct. Positive 79.0 * Distributions are characterized into income type at year-end. 3 Yr Ended 5 Yr Ended 10 Yr 29.7 -5.1 13.1 57 91.2 2-2014 10-2012 22.3 0.7 13.4 33 100.0 — — — — — — — Quarterly Commentary as at March 31, 2015 Health Care outperformed Information Technology over this period and the Fund was favourably weighted relative to the benchmark. Health Care continued to lead the market with all sub-sectors outperforming the broader market. Health insurers were the leaders, benefitting from a number of factors including limited foreign currency risk and improving market fundamentals, particularly within the Medicare market. Information Technology slightly underperformed the broader market. Aside from currency trends, an important theme recently has been weaker PC sales after a very strong refresh cycle in 2014. Additionally, IT Services companies generally outperformed over the past quarter on improving demand trends. to areas including cloud, security and Internet of Things particularly continuing to stand out as strong investment themes. In Health Care, we remain positive on the fundamental outlook over the next 12-months despite the relative outperformance for the group over the past several years. We remain positive on the outlook for the Technology sector, with companies with exposure The portfolio manager remains cautiously optimistic for U.S. equities over the remainder of 2015. The outlook for earnings growth is a little murky for the market as a whole, though visibility does improve when isolating non-Energy stocks from the picture. Valuations for U.S. equities are no longer inexpensive and likely closer to fairly valued which contributes to more moderate returns expectations for the overall market. Major Buys Major Sells Boston Scientific Mylan NV Puma Biotechnology Salesforce.com Twitter C.R. Bard EMC Corp Hewlett-Packard Abbvie Amgen ©2015. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. These pages are not complete without the disclosure page. Printed on April 21, 2015 RBC Life Science and Technology Fund Disclosure RBC Funds, PH&N Funds and RBC Corporate Class Funds are offered by RBC Global Asset Management Inc. and distributed through authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or Fund Facts document of the mutual fund before investing. Except as otherwise noted, the indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed or covered by the Canadian Deposit Insurance Corporation or by any other government deposit insurer. 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. The value of mutual funds change frequently and past performance may not be repeated. This document has been compiled by RBC Global Asset Management Inc. (RBC GAM) from sources believed to be reliable, but no representations or warranty, express or implied, are made by RBC GAM, its affiliates or any other person as to its accuracy, completeness or correctness. All opinions and estimates constitute RBC GAM's judgment as of the date of this document, are subject to change without notice and are provided in good faith but without legal responsibility. The Top Ten/25 Holdings may change due to ongoing portfolio transactions within the fund. The prospectus, Fund Facts document, and other information about the underlying investment funds are available at www.sedar.com. MER (%) for RBC Funds and PH&N Funds is based on actual expenses for the full-year period, January 1 to December 31, 2014, expressed on an annualized basis. MER (%) for RBC Corporate Class Funds is based on actual expenses for the full-year period April 1, 2014 to March 31, 2015, expressed on an annualized basis. Graphs are only used to illustrate the effects of the compound growth rate and do not reflect future values of any fund or returns on investment of any fund. The fund profile is provided for informational purposes only. Particular investments and/or trading strategies should be evaluated relative to each individual’s investment objectives. The information contained in the fund profile is not, and should not be construed as, investment or tax advice. You should not act or rely on the information contained in the fund profile without seeking the advice of an appropriate professional advisor. Quartile rankings are determined by Morningstar Research Inc., an independent research firm, based on categories maintained by the Canadian Investment Funds Standards Committee (CIFSC). Quartile rankings are comparisons of the performance of a fund to other funds in a particular category and are subject to change monthly. The quartiles divide the data into four equal segments expressed in terms of rank (1, 2, 3 or 4). This is the Morningstar quartile ranking of Series A units of the Fund as of March 31, 2015. Morningstar ratings are overall ratings reflecting risk adjusted performance as of March 31, 2015. The ratings are subject to change every month. The ratings are calculated for funds with a minimum of 3 years of performance, calculated from the funds' 1 and 3 year average annual returns measured against a 91-day Treasury Bill return with appropriate fee adjustments. The top 10% of the funds in a category receive 5 stars (high); if the funds fall in the next 22.5%,they receive 4 stars (above average); a place in the middle 35% earns a fund 3 stars (neutral or average); those in the next 22.5% receive 2 stars (below average); and the lowest 10% get 1 star (low). Ratings are just one factor to consider when investing. For more information, please see www. morningstar.ca. ® / ™ Trademark(s) of Royal Bank of Canada. Used under licence. © RBC Global Asset Management Inc. 2015 ©2015. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. These pages are not complete without the disclosure page.
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