RBC and BlackRock team up with new suite of ETFsBy The IJ Staff | January 10 2019 09:30AM
RBC Global Asset Management and BlackRock Asset Management Canada have announced a strategic alliance that will deliver a total of 150 ETFs into the Canadian market with combined assets of $60 billion under management.
Investors and advisors will be able to access the new brand, under the new RBC iShares name, through full-service advisors, discount brokerages and robo-advice platforms.
The two firms remain separate legal entities and will continue to maintain separate fund management and portfolio advisory responsibilities for their specific core capabilities. They will work together to develop new strategies to further expand and refine the solution set.
Specialized services will also be provided to third-party discretionary portfolio managers, advisors and institutions, including capital markets support, portfolio construction resources and dedicated ETF strategists.
“Around the world, iShares is known for the breadth of its ETF offerings, technology operating expertise, and investor education, while RBC Global Asset Management is the leader in Canadian mutual funds and has built a leading franchise developing innovative solutions,” said Martin Small, BlackRock's head of US & Canada iShares.
“Our aspiration is to champion a new standard for the Canadian ETF market by providing the best solutions and service and help grow the industry through innovative tools and technology for existing and new managers.”