RBC Global Asset Management Inc. caps RBC Private Canadian Growth and Income Equity Pool

Published on Thursday, 09 August 2012 09:08 Written by TradersHuddle Staff

TORONTO, Aug. 9, 2012 /CNW/ - RBC Global Asset Management Inc. today announced the following change to the RBC Private Canadian Growth and Income Equity Pool.

Effective immediately, the RBC Private Canadian Growth and Income Equity Pool (the Pool) will be capped to new investors. The Pool is sub-advised by Greystone Managed Investments Inc.This change will not affect existing investments in the Pool. Current investors can continue to make additional investments into the Pool. Purchases through automatically reinvested distributions will continue unless an investor instructs their dealer otherwise. The Pool has been capped to maintain the disciplined investment management approach and to ensure the managers are able to fulfill the mandate over the long term.

About RBC Global Asset Management and RBC Wealth Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC), and includes institutional money managers BlueBay Asset Management, Phillips, Hager & North Investment Management and RBC Global Asset Management (U.S.). RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through exchange-traded funds, hedge funds, mutual funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $250 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.

RBC Global Asset Management is part of RBC Wealth Management, which is one of the world's top 10 largest wealth managers. RBC Wealth Management directly serves affluent, high-net-worth and ultra high net worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$560 billion of assets under administration, more than C$322 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.

SOURCE RBC