RBC Investor & Treasury Services (RBC I&TS) has been appointed custodian by Picton Mahoney Asset Management (Picton Mahoney) for three liquid alternative mutual funds added to Picton Mahoney’s Fortified Fund family.
RBC I&TS will also provide fund administration and shareholder services.
The three liquid alternative mutual funds were added to the Fortified Fund family on 28 September 2018 and provide Canadian retail investors access to sophisticated hedging expertise, improved diversification and additional tools for risk mitigation.
Liquid alternatives, known as ‘liquid alts,’ are strategies used through alternative investment vehicles including derivatives, leveraging and shorting. The Ontario Securities Commission (OSC) recently announced new liquid alternative amendments that are expected to come into effect on or about 3 January, 2019, and provide retail investors with access to the products that use these strategies. Liquid alternatives also continue to gain in popularity as an investment vehicle. A recent RBC I&TS survey of Canadian asset managers revealed that 13 per cent of the respondents planning to introduce new products in the next 12 months would launch liquid alternatives.
RBC I&TS has worked with Picton Mahoney since 2015 as custodian to the asset manager’s mutual funds while also providing shareholder services and valuation services. RBC I&TS also provides shareholder services and valuation services to Picton Mahoney’s hedge funds.
RBC I&TS’ relationship with Picton Mahoney Asset Management reflects its ongoing ability to utilise data, insights and solutions to move our clients’ businesses forward as their needs evolve.
“Asset managers recognise the value of alternative investments, and our new mandate with Picton Mahoney Asset Management shows that we possess the products, services and offerings to fulfil their growing and evolving needs,” says David Linds, Managing Director, Head Asset Servicing, Canada, RBC Investor & Treasury Services, RBC.
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