RBC GAM introduces socially responsible fund, pilots digital services

By Staff | August 28, 2017 | Last updated on August 28, 2017
2 min read

RBC Global Asset Management Inc. has launched RBC Vision Fossil Fuel Free Global Equity Fund, which is part of the suite of RBC Vision Funds introduced earlier this year.

The fund avoids companies directly involved in extracting, processing or transporting coal, oil or natural gas. The fund also uses an exclusion list based on the Carbon Underground 200, which identifies the top-100 public coal companies and top-100 public oil and gas companies ranked by the potential carbon emissions content of their proven reserves.

The fund is available to individual investors through five options: Series A, Series F, Advisor (ISC), Advisor (LL) and Series D.

Management fees for the fund are outlined below.

Series A Series F Advisor (ISC) Advisor (LL) Series D
1.75% 0.75% 1.75% 1.75% 1.00%

The fund is also available to institutional investors through Series O.

Read: RBC’s wealth management profit up 25% over past year

Bank services use AI

RBC also launched pilots of two digital services based on artificial intelligence (AI) that manage day-to-day finances through RBC’s mobile app.

NOMI Insights helps clients track spending and plan for upcoming expenses. It also alerts users of unusual activity, like when a regular monthly payment is higher than normal.

Read: How growing household debt levels are putting Canada at risk

NOMI Find & Save uses predictive technology to find money clients aren’t spending and automatically move it into savings.

Both capabilities are now in pilot with clients ahead of a full launch this fall.

Also read:

Consumers spend again in Q2, but shopping trip won’t last

Advisor.ca staff

Staff

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