RBC expands custodian relationship with Picton Mahoney

By Staff | November 7, 2018 | Last updated on November 7, 2018
1 min read
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RBC Investor & Treasury Services, part of Royal Bank of Canada, has been appointed custodian by Picton Mahoney Asset Management on three liquid alternative mutual funds. RBC I&TS will also provide fund administration and shareholder services.

The liquid alternatives are part of Picton Mahoney’s Fortified Fund family, and provide retail investors with access to hedging expertise, improved diversification and additional tools for risk mitigation, says a release.

Read: What advisors need to know about liquid alts

RBC I&TS has worked with Picton Mahoney since 2015 as custodian to the asset manager’s mutual funds while also providing shareholder and valuation services. RBC I&TS also provides shareholder and valuation services to Picton Mahoney’s hedge funds.

An RBC I&TS survey of Canadian asset managers revealed that 13% of those planning to introduce new products in the next 12 months would launch liquid alternatives, says the release.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.