LONDON, October 1, 2014 – RBC Global Asset Management (RBC GAM) today announced the addition of the RBC Funds (Lux) - Asia Ex-Japan Fund to its Luxembourg-domiciled SICAV range.
The new fund is sub-advised by RBC Investment Management (Asia) Limited, and managed by Mayur Nallamala, Senior Portfolio Manager and Head of Asian Equities, RBC GAM in Hong Kong.
"Today's announcement reflects the strengthened capabilities and expertise RBC GAM has added over the past several years, including the recent build-out of our investment team based in Hong Kong," said Dan Chornous, Chief Investment Officer, RBC GAM Inc. "We are pleased to bring the expertise of Mayur Nallamala and his team to investors around the world."
The RBC Funds (Lux) - Asia Ex-Japan Fund will give investors exposure to the dynamic and growing economies and markets in Asia, which remains one of the fastest-growing regions in the world. The fund aims to provide long-term capital appreciation by investing in equity securities of companies located in or conducting a substantial portion of their business in Asia, excluding Japan.
Mr. Nallamala, who joined RBC from JP Morgan Asset Management last year, oversees more than US$1.8 billion in assets at RBC GAM (as at June 30, 2014) and has previously managed US$4 billion in Asia Pacific ex-Japan mandates for sovereign wealth, institutional and retail clients around the world.
Today's launch brings RBC GAM's offering of UCITS funds to 13. Last month RBC GAM launched the RBC Funds (Lux) - Global Equity Focus Fund, sub-advised by RBC GAM (UK) Limited and managed by Habib Subjally, Senior Portfolio Manager and Head of Global Equities, RBC GAM in London. RBC GAM's current UCITS offering also includes funds that cover global bonds, U.S. investment grade debt, Canadian, U.S. and emerging markets equities and two sector funds focused on global resource and precious metals stocks. Rounding out the range are three global balanced portfolios.
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 and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more thanCAD$350 billion (US $322B, £190B or €240B) in assets as at July 31, 2014 and have approximately 1,200 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 five 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$690 billion of assets under administration, more than C$426 billion of assets under management and approximately 4,400 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com .
*Scorpio Partnership Global Private Banking KPI Benchmark 2013. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.