RBC And TD Canadian Equity Fund Class Actions

Investigation Counsel P.C. and Paul Bates, Barrister (collectively, “Class Counsel”) have filed proposed class actions in Vancouver, British Columbia against RBC Global Asset Management Inc. (“RBC GAM”) and The Royal Trust Company (“Royal Trust”) regarding RBC Canadian Equity Fund (Fund Code: RBF269) (the “RBC Fund”) and against TD Asset Management Inc. (“TDAM”) regarding TD Canadian Equity Fund (Fund Code: TDB161) (the “TD Fund”).

The proposed RBC class action was filed on behalf of all persons, wherever they reside or are domiciled, who hold or held directly, or indirectly (via RBC “portfolio” or “fund of funds” products”), units of the RBC Fund at anytime from June 1, 2005 to present.

The proposed TD class action was filed on behalf of all persons, wherever they reside or are domiciled, who hold or held directly, or indirectly (via TD “portfolio” or “fund of funds” products), units of the TD Fund at anytime from January 1, 2010 to present.

The proposed class actions allege that assets of the RBC Fund and the TD Fund, and the assets of mutual funds holding those Funds, have been depleted by excessive fees paid to the fund managers, RBC GAM and TDAM, by the fund trustees.

RBC GAM and TDAM received fees for conducting an investment strategy based on active management when, it is alleged, the investment strategy actually being carried out was “closet indexing”, which is designed to closely track or replicate, not exceed, the funds’ benchmark index, the S&P/TSX Composite Index. The plaintiffs allege that the true investment objective and strategies of these two Canadian equity funds were not adequately disclosed to investors.

The proposed class action alleges that excessive fees paid to RBC GAM over many years have significantly reduced the returns of investors and that investors are entitled to damages including restitution of excessive management fees.

Inquiries regarding these proposed class proceedings can be directed to Investigation Counsel at 416-637-3152 or cdnequityfunds@investigationcounsel.com.

In order for Investigation Counsel P.C. to notify you of important developments in this action when permitted or required to do so by the Court, please fill out the RBC and TD Canadian Equity Fund Class Actions Information Form.

* This Is Not A Claim Form You are not obligated to fill in this form and, if you choose to do so, you are not retaining Investigation Counsel P.C. to act on your behalf. Your personal information will not be disclosed to a third party without your consent or unless it is required by law.

Name*
First Last
Address*
Street Address Address Line 2 City Province Postal Code
Email*
Phone
Please confirm whether you hold or have held RBC Canadian Equity Fund directly, or indirectly in a RBC “portfolio” or “fund of funds”, anytime since June 1, 2005:*
- Directly
- In A RBC Portfolio Fund
- Both
- Not Applicable
If available, please include the names of the RBC fund products here:
*RBC portfolio funds that may currently contain, or might have contained RBC Canadian Equity Fund during the class period, include RBC Select Very Conservative Portfolio, RBC Select Conservative Portfolio, RBC Select Balanced Portfolio, RBC Select Growth Portfolio, RBC Select Aggressive Growth Portfolio, RBC Select Choices Conservative Portfolio, RBC Select Choices Balanced Portfolio, RBC Select Choices Growth Portfolio, RBC Select Choices Aggressive Growth Portfolio, RBC Managed Payout Solution, RBC Managed Payout Solution – Enhanced, RBC Managed Payout Solution – Enhanced Plus