Royal Mutual Funds reduces fees on Royal Index family

TORONTO, Nov. 10 /CNW/ - Royal Mutual Funds announced today, that as of November 11, it would lower the fees on four of its Royal Index Funds to retain its status as Canada's lowest cost provider of retail index products.

"We are committed to being cost-competitive and accessible," Simon Lewis, president and CEO of Royal Mutual Funds Inc. explains "We believe our investors are the real winners here."

New Maximum Management Expense Ratio (MER)
    Royal Canadian Index Fund                        .50%
    Royal U.S. Index Fund                            .50%
    Royal U.S. RSP Index Fund                        .50%
    Royal International RSP Index Fund               .50%

These four regular index funds feature a minimum investment of $2,500 for both registered and non-registered plans and are eligible for additional contributions and/or pre-authorized investment plans with a minimum of $100.

The fees relating to Royal Mutual Fund's two premium index funds, Royal Premium Canadian Index Fund and Royal Premium U.S. Index Fund, will remain unchanged. The maximum MER for these funds is capped at .30%. The premium versions are available with a minimum of $250,000 and additional contributions limited to a minimum of $5,000.

Last month Royal Mutual Funds launched its six new index funds to offer investors a full investment product range. State Street Global Advisors, one of the world's largest index managers, act as sub advisors to the funds. Royal Mutual Funds is Canada's largest no-load mutual fund company with over $27 billion in assets under management. Its family of 38 mutual funds encompasses a broad range of investment management styles and investment choices including equity, income and money market funds, as well as major geographic regions such as Canada, U.S.A., Asia, Europe and Latin America.

Royal Mutual Funds are sold by Royal Mutual Funds Inc., a member of Royal Bank Financial Group, and are not insured by the Canada Deposit Insurance Corporation, the Régie de l'assurance-dépôts du Québec or any other deposit insurer nor guaranteed by Royal Bank or Royal Trust. Important information about the mutual funds is contained in the simplified prospectus, copies of which may be obtained in any branch of Royal Bank or Royal Trust and which should be read carefully before investing. Unit values and investment returns will fluctuate.

0- 11/10/1998

For further information: For more information and/or to arrange interviews, please contact: Tamara Smith, Royal Mutual Funds, Toronto (416) 955-6023

News release courtesy Canada NewsWire.

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