TORONTO, September 9, 2015 – RBC Global Asset Management Inc. (RBC GAM Inc.) today announced that portfolio management responsibilities for Phillips, Hager & North U.S. Equity Fund and Phillips, Hager & North U.S. Growth Fund will transition from RBC GAM Inc. to its U.S. affiliate, RBC Global Asset Management (U.S.) Inc. (RBC GAM-US) prior to December 31, 2015.
Founded in 1983, RBC GAM-US is a registered investment adviser headquartered in Minneapolis, Minnesota. RBC GAM-US has approximately US$40 billion in assets under management, including U.S. equities, fixed income and money market mandates. The firm's U.S. equity capabilities range from large to micro-cap, as well as across value and growth styles. Its institutional clients include corporations, public funds, financial institutions, foundations, endowments as well as individual investors across the U.S.
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 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 than $380 billion and have approximately 1,300 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 GAM business. RBC Wealth Management has more than C$778 billion of assets under administration, more than C$530 billion of assets under management and approximately 4,050 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2014. 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.