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Rating:RBC Preps Global Credit and EM Equity Funds, Ponders Alts Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 13, 2015

RBC Preps Global Credit and EM Equity Funds, Ponders Alts

Reported by Neil Anderson, Managing Editor

Global credit funds and emerging market funds are next on RBC Global Asset Management's [profile] U.S. agenda, and alternatives could be next in line after that.

Mike Lee, CEO and chief investment officer for RBC GAM-U.S., confirms that he's interested in more unconstrained and absolute return strategies powered by RBC GAM's BlueBay arm in the UK.

"There's a number of capabilities that we're incubating in the global credit area with BlueBay," Lee tells MFWire.

He confirms that he's also working on an emerging market value strategy, powered by a London-based emerging market equity team.

"We are structured as a group of 24 specialist investment teams," Lee says.

He's also interested in alternatives.

"There's certainly some opportunities to fill some gaps in our investment product portfolio, particularly in the alternatives area," Lee says. "We're certainly actively considering how we can go about offering more absolute return type products for clients."

Last month RBC GAM-U.S. unveiled five new mutual funds: the RBC Small Cap Value Fund, managed a small cap team in Boston; the RBC BlueBay Emerging Market Unconstrained Fixed Income Fund and the RBC BlueBay Total Return Credit Fund, both managed by BlueBay; and the RBC Global Opportunities Fund and the RBC International Opportunities Fund, both managed by the global equity team in London. RBC GAM now offers 26 mutual funds in the U.S., including six money market funds.

Also last month, RBC GAM back in Canada unveiled some changes at the top. On May 1 Damon Williams (head of RBC GAM institutional) and Alex Khein (CEO of BluBay) will become co-CEOs of RBC GAM, reporting to George Lewis, group head of RBC Wealth Management and RBC Insurance. RBC GAM's current CEO, John Montalbano, will become vice chairman of RBC Wealth Management. Lee tells MFWire that he will continue to report to Williams.

"That change itself shouldn't have any impact on our business," Lee says. "This is the announcement of a succession plan that's been in place for some time." 

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