RBC Global Asset Management announced on July 15 the launch of RBC Global Portfolios, which allow investors to diversify beyond their Canadian holdings in a single portfolio.
RBC GAM notes that Canadian investors, on average, have about 90% of their wealth tied to Canada. The RBC Global Portfolios are designed to address this home country bias, says the company.
Five portfolio options are available, ranging from very conservative to all-equity. The portfolios are comprised of mutual funds managed by RBC GAM Inc.
"Canadians are becoming increasingly aware of how concentrated their investments are in Canada," said Doug Coulter, President of RBC GAM Inc. "They have been asking for more global investment options to diversify their holdings, and RBC Global Portfolios is our answer, building on RBC GAM's thirty plus years of managing portfolio solutions.”