RBC Global Asset Management Inc. (RBC GAM Inc.), the asset management division of Royal Bank of Canada (TSE: RY), announced Monday the launch of RBC Global Choice Portfolios.
Diversification Among Regions and Investment Managers
This suite of global portfolios provides investors with an efficient way to access the expertise of a range of investment managers while diversifying their holdings across borders. At launch, the five RBC Global Choice Portfolios will include a selection of 10 funds managed by eight different companies.
Five options are offered, ranging from a very conservative portfolio to a portfolio composed entirely of equities, to take into account the various risk-return profiles of investors. The funds are also offered in Series O.
Along with the launch of the RBC Global Choice Portfolios, RBC GAM Inc. has also added five new RBC Index ETF Funds to its suite of index solutions. Each fund will take advantage of the opportunities offered by the RBC iShares strategic alliance and will invest in one or more iShares ETFs.
Management Commentary
RBC GAM Inc. president Doug Coulter said, “RBC Global Asset Management has been managing multi-asset portfolio solutions for over 35 years, including our RBC Select Choices Portfolios launched in 2000. RBC Global Choices Portfolios further expand our solution set, offering Canadian investors a curated selection of funds and ETFs managed by leading third-party managers while providing exposure to global equity markets.”
Wall Street’s Take
Last week, Barclays analyst John Aiken maintained a Buy rating on RY, with a price target of C$157. This implies 10.8% upside potential.
The rest of the Street is bullish on RY with a Strong Buy consensus rating based on six Buys and two Holds. The average Royal Bank of Canada price target of C$145.57 implies 2.8% upside potential to current levels.
TipRanks’ Smart Score
RY scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns should outperform the overall market.
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