RBC Global Asset Management Brings Convertible Bond Expertise of BlueBay Asset Management to Canadian Investors
TORONTO, Nov. 26, 2012 /CNW/ - RBC Global Asset Management Inc. announced today the launch of BlueBay Global Convertible Bond Fund, sub-advised by BlueBay Asset Management LLP, a specialist fixed income and alternative asset manager. The fund is available to individual and institutional investors across Canada.
"We have recently seen a lot of risk aversion in the market due to ongoing volatility. As a result, we are pleased to offer additional choice to investors seeking to combine the security of bonds with the upside potential of equities," said Doug Coulter, president of RBC Global Asset Management Inc. "Managed by Michael Reed, senior portfolio manager, and Alessandro Esposito, portfolio manager, the new fund draws on the depth of BlueBay's fixed income expertise. The fund provides another way for Canadians to access the global convertible bond markets and diversify their portfolios."
The BlueBay Global Convertible Bond Fund invests primarily in global convertible bonds, which tend to have low correlations to other bonds in a rising rate environment and offers less volatility than equities. The fund is appropriate for investors seeking a combination of current income and capital growth potential and who want exposure to a portfolio of global convertible bonds to diversify the fixed-income portion of their overall portfolio. Investors should have a long-term investment horizon and should be able to tolerate a medium level of investment risk.
The new fund is available to individual investors through six low-fee options: Series A; Advisor Series; Series H; Series F and Series I (available via financial advisors); and Series D (available via direct-to-client platforms, PH&N Investment Services and RBC Direct Investing).
The management fee for each fund series is outlined in the table below.
|FUND||MANAGEMENT FEE (%)|
|SERIES A||ADVISOR||SERIES H*||SERIES F||SERIES I*||SERIES D|
|BlueBay Global Convertible Bond Fund||1.70||1.70||1.45||0.95||0.70||1.10|
* Series H and Series I units are available for investors with a minimum investment of $200,000.
The funds are also available to institutional investors through Series O.
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-US. 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 $260 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$562 billion of assets under administration, more than C$324 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.