The Phillips, Hager & North Short Term Bond & Mortgage Fund is re-opening to new investors today.

The fund was capped to new investors on July 4, 2016 to manage inflows, but managers say capacity in the short-term bond market has made it possible to re-open the fund.

The fund, which is part of RBC Global Asset Management, seeks to provide relatively high yields and preserve capital by investing primarily in a diversified portfolio of short-term fixed income securities issued by Canadian governments and corporations, and first mortgages on property located in Canada.