0001145549-19-016604.txt : 20190611 0001145549-19-016604.hdr.sgml : 20190611 20190611101231 ACCESSION NUMBER: 0001145549-19-016604 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190331 FILED AS OF DATE: 20190611 DATE AS OF CHANGE: 20190611 EFFECTIVENESS DATE: 20190611 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RBC FUNDS TRUST CENTRAL INDEX KEY: 0001272950 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-21475 FILM NUMBER: 19890055 BUSINESS ADDRESS: STREET 1: 50 SOUTH SIXTH STREET STREET 2: SUITE 2350 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-313-1341 MAIL ADDRESS: STREET 1: 50 SOUTH SIXTH STREET STREET 2: SUITE 2350 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: TAMARACK FUNDS TRUST DATE OF NAME CHANGE: 20031212 0001272950 S000043475 RBC Emerging Markets Equity Fund C000134841 Class A REEAX C000134842 Class I REEIX C000175516 Class R6 RREMX 0001272950 S000043476 RBC Emerging Markets Small Cap Equity Fund C000134843 Class A RSMAX C000134844 Class I RESIX 0001272950 S000043718 RBC Short Duration Fixed Income Fund C000135576 Class I RSDIX C000138515 Class A RSHFX 0001272950 S000043719 RBC Ultra-Short Fixed Income Fund C000135577 Class I RUSIX C000138516 Class A RULFX 0001272950 S000046850 RBC Global Opportunities Fund C000146417 Class I RGOIX C000175517 Class R6 RGORX 0001272950 S000046851 RBC International Opportunities Fund C000146418 Class I RIOIX C000175518 Class R6 RIORX 0001272950 S000059741 RBC Emerging Markets Value Equity Fund C000195521 Class I REMVX C000195522 Class R6 RMVRX N-CEN 1 primary_doc.xml X0201 N-CEN LIVE 0001272950 XXXXXXXX false false false N-1A S000043719 true S000043718 true S000046851 true S000046850 true S000043475 true S000059741 C000195522 C000195521 S000043476 true RBC Funds Trust 811-21475 0001272950 549300456VUEP58RCU35 50 South Sixth Street Suite 2350 Minneapolis 55402 US-MN US 612-376-7000 The Bank of New York Mellon 240 Greenwich Street New York 10286 1-212-495-1784 Records related to its function as custodian. RBC Global Asset Management (U.S.) Inc. 50 South Sixth Street Suite 2350 Minneapolis 55402 612-376-7000 Records related to its function as advisor. RBC Funds Trust 50 South Sixth Street Suite 2350 Minneapolis 55402 (612)-376-7000 Records related to its function as Registrant. BlueBay Asset Management LLP 77 Grosvenor Street London GB W1K 3JR 0044 20 7389 3700 Records related to its function as sub-advisor. BlueBay Asset Management USA LLC Four Stamford Plaza, 107 Elm Street Suite 512 Stamford 06902 1-203-541-4300 Records related to its function as sub-advisor. RBC Global Asset Management (UK) Limited Riverbank House, 2 Swan Lane London GB EC4R3BF 0044 207 6534000 Records related to its function as sub-advisor. The Bank of New York Mellon 760 Moore Road King of Prussia 19406 800-441-9800 Records related to its function as fund accounting agent and co-administrator. U.S. Bank, N.A. 1555 N. 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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of RBC Funds Trust and Shareholders of RBC Emerging Markets Equity Fund, RBC Emerging Markets Small Cap Equity Fund, RBC Emerging Markets Value Equity Fund, RBC Global Opportunities Fund, RBC International Opportunities Fund, RBC Short Duration Fixed Income Fund and RBC Ultra-Short Fixed Income Fund

In planning and performing our audits of the financial statements of RBC Emerging Markets Equity Fund, RBC Emerging Markets Small Cap Equity Fund, RBC Emerging Markets Value Equity Fund, RBC Global Opportunities Fund, RBC International Opportunities Fund, RBC Short Duration Fixed Income Fund and RBC Ultra-Short Fixed Income Fund (seven of the funds constituting RBC Funds Trust, hereafter collectively referred to as the “Funds”) as of and for the year ended March 31, 2019, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds’ internal control over financial reporting.

The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB.

 

However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of March 31, 2019.

This report is intended solely for the information and use of the Board of Trustees of RBC Funds Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ PricewaterhouseCoopers LLP

Minneapolis, Minnesota

May 23, 2019