RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada, one of the world's largest banks by market capitalisation. It provides global investment management services and solutions to institutional, high-net-worth, and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds, and specialty strategies. The RBC GAM group of companies — which includes RBC GAM Inc. (incorporating Phillips, Hager & North Investment Management and PH&N Institutional), RBC BlueBay Asset Management, RBC GAM entities in the US, UK, and Asia, and RBC Indigo Asset Management — manages approximately C$680 billion in assets and operates from offices across Canada, the United States, Europe, and Asia.
Website: rbcgam.com
Founder: Division of Royal Bank of Canada
Company type: Wholly owned subsidiary of Royal Bank of Canada (TSX/NYSE: RY)
Regions served: Global; serves institutional and individual investors in Canada, the United States, Europe, and Asia
What does RBC Global Asset Management offer?
RBC GAM provides investment management across a broad spectrum of asset classes and client types. Its institutional offering is delivered primarily through PH&N Institutional and includes:
- active fixed income strategies, including one of Canada's most established liability-driven investment (LDI) practices, dating to the early 1990s and supported by sophisticated risk systems
- active equity strategies across global, North American, emerging markets, Asian, and European mandates, managed by 18 investment teams located worldwide
- alternative strategies, including hedge funds, private credit, and infrastructure debt, available through RBC BlueBay and other platforms
- Delegated Portfolio Solutions (DPS), a comprehensive outsourced investment management programme for Canadian institutional investors covering integrated portfolio management and oversight
- Institutional Portfolio Solutions (IPS), providing ideas, analyses, and custom investment solutions using pooled funds for plan sponsors that prefer to retain strategic decision-making
- mutual funds (RBC Funds, PH&N Funds, BlueBay Funds), ETFs (RBC ETFs), and SICAV funds for retail and intermediary markets
- model portfolios for unified managed account programmes
In 2025, PH&N Institutional was named a Best Asset Manager for Institutional Investors (Canada) by Crisil Coalition Greenwich — the 12th consecutive year in which RBC GAM's institutional channel earned that designation or its predecessor Greenwich Quality Leader recognition for Canadian institutional investment management client service.
RBC Global Asset Management in the market
RBC GAM is the largest bank-owned asset manager in Canada and one of the largest investment management organisations in the country overall. Its institutional business serves pension plans, endowments, foundations, and insurance companies across Canada, and its retail business — spanning mutual funds, ETFs, and managed portfolios — gives it unmatched distribution reach through RBC's domestic banking network and the broader advisor community.
The acquisition of BlueBay Asset Management (now RBC BlueBay) gave RBC GAM a leading fixed income and alternative credit platform with strong institutional recognition in European markets, meaningfully expanding the group's geographic and product footprint beyond its Canadian roots. The subsequent addition of RBC Indigo Asset Management further broadened the group's investment capabilities. In April 2026, RBC GAM (US) launched the RBC BlueBay Credit Opportunities Fund, a new multi-asset credit strategy targeting US high yield, loans, and structured credit for institutional and intermediary investors.
RBC GAM's competitive positioning in the Canadian institutional market rests on the combination of its deep LDI expertise, its active equity capabilities across global markets, and its Delegated Portfolio Solutions programme, which competes directly with the outsourced CIO offerings of consulting firms and specialist asset managers. The consistency of its Greenwich Quality Leader recognitions over more than a decade reflects the strength of its relationships with domestic pension plan sponsors and their investment consultants — the constituency at the core of the BPM readership.
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