TORONTO, November 7, 2018 — RBC Investor & Treasury Services (RBC I&TS), part of Royal Bank of Canada (RY on TSX and NYSE), today announced it has been appointed custodian by Picton Mahoney Asset Management (“Picton Mahoney”) on three liquid alternative mutual funds added to its Fortified Fund family. RBC I&TS will also provide fund administration and shareholder services.
The three liquid alternative mutual funds were added to the Fortified Fund family on September 28, 2018 and provide Canadian retail investors access to sophisticated hedging expertise, improved diversification and additional tools for risk mitigation.
Liquid alternatives, known as ‘liquid alts,’ are strategies used through alternative investment vehicles including derivatives, leveraging and shorting. The Ontario Securities Commission (OSC) recently announced new liquid alternative amendments that are expected to come into effect on or about January 3, 2019, and provide retail investors with access to the products that use these strategies. Liquid alternatives also continue to gain in popularity as an investment vehicle. A recent RBC I&TS survey of Canadian asset managers revealed that 13 per cent of the respondents planning to introduce new products in the next 12 months would launch liquid alternatives.
RBC I&TS has worked with Picton Mahoney since 2015 as custodian to the asset manager’s mutual funds while also providing shareholder services and valuation services. RBC I&TS also provides shareholder services and valuation services to Picton Mahoney’s hedge funds.
RBC I&TS’ relationship with Picton Mahoney Asset Management reflects its ongoing ability to utilize data, insights and solutions to move our clients’ businesses forward as their needs evolve.
“Asset managers recognize the value of alternative investments, and our new mandate with Picton Mahoney Asset Management shows that we possess the products, services and offerings to fulfill their growing and evolving needs,” said David Linds, Managing Director, Head Asset Servicing, Canada, RBC Investor & Treasury Services, RBC.
About RBC Investor & Treasury Services
RBC Investor & Treasury Services (RBC I&TS) is a specialist provider of asset services, a leader in Canadian cash management and transaction banking services, and a provider of treasury services to institutional clients worldwide, with over 4,000 employees in 17 countries across North America, Europe, Asia and Australia. We deliver services which safeguard client assets, underpinned by client-centric digital solutions which continue to be enhanced and evolved in line with our clients’ changing needs. Trusted with CAD 4.2 trillion in client assets under administration as at August 22, 2018, RBC I&TS has been rated by our clients as the #1 global custodian for eight consecutive years and is a financially strong partner with among the highest credit ratings globally.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 16 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at: rbc.com/community-sustainability.
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For more information, please contact:
Briana D’Archi
+1 416 955 5658
briana.darchi@rbc.com