RBC Canadian Equity Class - RBC Global Asset Management
Printed on April 23, 2015 RBC Canadian Equity Class No. of Funds in Category 341 Fund Category Canadian Equity Morningstar Rating™ QQQ Investment Objective Portfolio Analysis as of March 31, 2015 To provide long-term capital growth. The fund invests primarily in equity securities of major Canadian companies either directly or indirectly through investment in other mutual funds managed by RBC GAM or an affiliate. Asset Mix % Assets Cash 4.3 Fixed Income 0.0 Canadian Equity 94.7 US Equity 0.9 International Equity 0.0 Other 0.0 Fund Details Series Load Structure Currency Fund Code D No Load CAD RBF3506 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 1.8 17.8 Avg. Mkt Cap. $B 20.2 Small December 2011 15.9 13.01 1.19 S&P/TSX Capped Composite Total Return Index Large Mid Inception Date Total Fund Assets $Mil Series D NAV $ Series D MER % Benchmark Value Blend Growth Global Equity Sectors % Equity Financials Energy Industrials Materials Consumer Discretionary Telecommunication Services Information Technology Consumer Staples Utilities Health Care Unclassified 37.9 24.4 10.4 9.7 5.1 3.4 3.3 2.6 2.2 1.0 0.0 Top 25 Holdings % Assets Royal Bank Of Canada Toronto-Dominion Bank Bank of Nova Scotia Canadian National Railway Co Enbridge Inc 6.4 4.7 4.3 3.4 3.0 Manulife Financial Corp Bank of Montreal Canadian Natural Resources Ltd CIBC Suncor Energy Inc 3.0 2.8 2.7 2.7 2.6 TransCanada Corp Magna International Inc Class A Brookfield Asset Management Inc Class A Canadian Pacific Railway Ltd Sun Life Financial Inc 2.5 2.1 1.8 1.7 1.6 Agrium Inc TELUS Corp Cenovus Energy Inc Potash Corp of Saskatchewan Inc Pembina Pipeline Corp 1.6 1.5 1.5 1.3 1.3 Alimentation Couche-Tard Inc ARC Resources Ltd BCE Inc Husky Energy Inc Encana Corp 1.2 1.2 1.1 1.0 1.0 Total % of Top 25 Holdings Total Number of Stock Holdings Total Number of Bond Holdings Total Number of Other Holdings Total Number of Holdings 58.1 149 0 1 150 Performance Analysis as of March 31, 2015 15 14 13 Growth of $10,000 Series D $13,719 12 11 10 9 20 15 Calendar Returns % Series D 10 5 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD — — — — — — — — — — — — — — 6.2 3rd 14.7 3rd 11.1 2nd 1.3 3rd Fund Quartile 1 Mth 3 Mth 6 Mth 1 Yr 3 Yr 5 Yr 10 Yr Since Incep. Trailing Return % -1.8 3rd 525 1.3 3rd 504 -0.1 3rd 501 6.2 3rd 473 10.3 2nd 341 — — 253 — — 112 10.2 — — Fund Quartile No. of Funds in Category ©2015. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. These pages are not complete without the disclosure page. Printed on April 23, 2015 RBC Canadian Equity Class Management Overview Manager Bios Performance Analysis Cont'd as of March 31, 2015 Marcello Montanari Distributions ($)/Unit YTD* 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 RBC Global Asset Management Inc. Total Distributions Interest Dividends Capital Gains Return Of Capital 0.19 — 0.19 — — 0.32 0.00 0.32 — — 0.14 — 0.14 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Marcello Montanari is Vice President and Senior Portfolio Manager, Canadian Equities. He has been in the investment industry since 1999. Martin Paleczny Ended 1 Yr Ended RBC Global Asset Management Inc. Best/Worst Periods % Martin Paleczny is Vice President and Senior Portfolio Manager, Asset Allocation and Derivatives. He has been in the investment industry since 1994. 8-2014 Best 28.9 12-2014 1-2013 1-2015 Worst 6.0 Average 14.1 No. of Periods 28 Pct. Positive 100.0 * Distributions are characterized into income type at year-end. 3 Yr Ended 5 Yr Ended 10 Yr 10.6 9.4 10.2 4 100.0 — — — — — — — — — — — — — — Quarterly Commentary as at March 31, 2015 Holdings in the Financials sector had a positive impact on performance, but this was offset by positions in the Health Care and Industrials sectors. In Financials, an overweight position in Brookfield Property Partners aided returns. The company and a consortium of partners were successful in their bid to acquire Songbird Estates, the majority owner of a large portfolio of properties in London’s Canary Wharf district with an array of development opportunities that could provide meaningful returns to the company in the future. An underweight position in small- and mid-cap resources companies contributed to performance, as declining commodity prices had a negative impact on these companies in the Materials and Energy sectors. In Health Care, an underweight position in Valeant Pharmaceutics hindered performance. The stock gained 50% over the quarter, as the company acquired Salix Pharmaceuticals. In the Industrials sector, an overweight allocation to Newalta detracted from performance as the company’s stock has suffered from the large decline in commodity prices. Expectations for Canadian equity-market returns should remain modest until energy prices convincingly bottom. Oil prices are difficult to forecast in the short run, and it now appears that prices will be lower on average and more volatile than seen in the recent past. A recovery in the price of oil could prompt a rally in the Canadian dollar, but we remain of the view that a weaker Canadian dollar is probably with us for some time. The U.S. Federal Reserve is likely to raise interest rates before the Bank of Canada, as energy markets and a fully valued housing market will remain lingering concerns in Canada. ©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 23, 2015 RBC Canadian Equity Class 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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