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Welcome to the RBC Global Asset Management site for Institutional Investors

In order to proceed to the site, please accept our Terms & Conditions.

Please read the following terms and conditions carefully. By accessing rbcgam.com and any pages thereof (the "site"), you agree to be bound by these terms and conditions as well as any future revisions RBC Global Asset Management Inc. ("RBC GAM Inc.") may make in its discretion. If you do not agree to the terms and conditions below, do not access this website, or any pages thereof. Phillips, Hager & North Investment Management is a division of RBC GAM Inc. PH&N Institutional is the institutional business division of RBC GAM Inc.

No Offer

Products and services of RBC GAM Inc. are only offered in jurisdictions where they may be lawfully offered for sale. The contents of this site do not constitute an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.

No information included on this site is to be construed as investment advice or as a recommendation or a representation about the suitability or appropriateness of any product or service. The amount of risk associated with any particular investment depends largely on the investor's own circumstances.

No Reliance

The material on this site has been provided by RBC GAM Inc. for information purposes only and may not be reproduced, distributed or published without the written consent of RBC GAM Inc. It is for general information only and is not, nor does it purport to be, a complete description of the investment solutions and strategies offered by RBC GAM Inc., including RBC Funds, RBC Private Pools, PH&N Funds, RBC Corporate Class Funds and RBC ETFs (the "Funds"). If there is an inconsistency between this document and the respective offering documents, the provisions of the respective offering documents shall prevail.

RBC GAM Inc. takes reasonable steps to provide up-to-date, accurate and reliable information, and believes the information to be so when published. Information obtained from third parties is believed to be reliable, but no representation or warranty, express or implied, is made by RBC GAM Inc., its affiliates or any other person as to its accuracy, completeness, reliability or correctness. RBC GAM Inc. assumes no responsibility for any errors or omissions in such information. The views and opinions expressed herein are those of RBC GAM Inc. and are subject to change without notice.

About Our Funds

The Funds are offered by RBC GAM Inc. and distributed through authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with the Funds. Please read the offering materials for a particular fund before investing. The performance data provided are historical returns, they are not intended to reflect future values of any of the funds or returns on investment in these funds. Further, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The unit values of non-money market funds change frequently. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual fund securities are not guaranteed by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns.

About RBC Global Asset Management

RBC Global Asset Management is the asset management division of Royal Bank of Canada ("RBC") which includes the following affiliates around the world, all indirect subsidiaries of RBC: RBC GAM Inc. (including Phillips, Hager & North Investment Management and PH&N Institutional), RBC Global Asset Management (U.S.) Inc., RBC Global Asset Management (UK) Limited, RBC Global Asset Management (Asia) Limited, BlueBay Asset Management LLP, and BlueBay Asset Management USA LLC.

Forward-Looking Statements

This website may contain forward-looking statements about general economic factors which are not guarantees of future performance. Forward-looking statements involve inherent risk and uncertainties, so it is possible that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution you not to place undue reliance on these statements as a number of important factors could cause actual events or results to differ materially from those expressed or implied in any forward-looking statement. All opinions in forward-looking statements are subject to change without notice and are provided in good faith but without legal responsibility.

Accept Decline

Led by Michael Kitt, Head of Real Estate Equity Investments, the RBC Real Estate team provides clients with access to a distinctive portfolio of high-quality Canadian commercial real estate assets. Based in Toronto, Canada, Michael brings more than 25 years of global real estate investment and development experience to our team.

“Our focus is to deliver unique investment solutions that provide investors with direct access to diversified, high quality Canadian core real estate. We seek to provide strategies that deliver attractive and predictable income, strong total returns, limited volatility and low correlation to other asset classes that can serve as the cornerstone of any private market allocation and strengthen the risk / return attributes of their long term investment strategy.” Michael Kitt Head, Real Estate Equity Investments, RBC Global Asset Management, Inc.


We invest in high quality assets that are diversified by geography, sector, tenants, and local economic factors to mitigate concentration risk.


Decisions are underpinned by in-depth analysis.

Long-term performance

We focus on a long-term strategic plan to maintain and create sustainable income growth and value.

Environmental, social and governance (ESG)

Asset analysis embedded in the investment process considers various ESG factors relevant to real estate assets.

Understanding risk

We tap into our deep market insight to appropriately price and incorporate risk into every asset decision in a portfolio.

The investment process is driven by both top-down and bottom-up analysis and reinforced by constant monitoring of our existing assets.

Portfolio analysis

Our portfolios are constructed based on a well-diversified mix of asset type and geography with long-term target weightings based on expected risk-adjusted return analysis. Market research is conducted on an ongoing basis to support informed portfolio decisions within the target ranges.

Investment analysis

Each asset held within our portfolios or considered for new investment undergoes rigorous analysis to ensure that only high quality properties that are consistent with our portfolios' targets are included in our portfolios.

Performance monitoring

Each asset held within our portfolios is individually monitored in all aspects of its performance and then collectively the portfolio results as a whole are similarly monitored.

Low relative volatility compared to public markets and non-domestic real estate markets
Potential for attractive risk-adjusted total returns
Operating income providing yield that is linked to long-term domestic inflation
Low correlation with other asset classes

Taken together, these qualities may make core real estate an attractive opportunity worthy of consideration in prudently diversified portfolios.

Our strategies