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You are currently viewing the United States website Institutional website. You can change your location here or visit other RBC GAM websites.
Welcome to the RBC Global Asset Management site for Institutional Investors

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

This RBC Global Asset Management (U.S.) Website is intended for institutional investors only.

For purposes of this Website, the term "Institutional" includes but is not limited to sophisticated non-retail investors such as investment companies, banks, insurance companies, investment advisers, plan sponsors, endowments, government entities, high net worth individuals and those acting on behalf of institutional investors. The Website contains information, material and content about RBC Global Asset Management (collectively, the “Information”).

The Website and the Information are provided for information purposes only and do not constitute an offer, solicitation or invitation to buy or sell a security, any other product or service, or to participate in any particular trading strategy. The Website and the Information are not directed at or intended for use by any person resident or located in any jurisdiction where (1) the distribution of such information or functionality is contrary to the laws of such jurisdiction or (2) such distribution is prohibited without obtaining the necessary licenses and such authorizations have not been obtained. Investment strategies may not be eligible for sale or available to residents of certain countries or certain categories of investors.

The Information is provided without regard to the specific investment objectives, financial situation or particular needs of any specific recipient and does not constitute investment, tax, accounting or legal advice. Recipients are strongly advised to make an independent review with an investment professional and reach their own conclusions regarding the investment merits and risks, legal, credit, tax and accounting aspects of any transactions.

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Shareholders of a company have the right to vote on certain aspects of the company's business, such as the election of the company's directors and the appointment of its auditors. A proxy is the document that companies send to shareholders to get their voting instructions.

Investment portfolios holding shares of companies are generally entitled to exercise the voting rights attached to those shares. Voting may occur for fixed income securities and some private market investments, but it is much less common.

As an asset manager, RBC Global Asset Management (RBC GAM) acts in the best interests of the accounts that it manages, including segregated client accounts and investment funds (collectively, “portfolios”).

We believe that issuers with good governance practices generally are able to focus on long-term sustainable growth, and are more likely to effectively manage conflicts and material environmental and social risk factors. These issuers are also more likely to access fixed income markets when needed, and pose less risk for equity investors due to proper alignment of shareholder and management interests. As such, we believe that exercising our voting rights is an effective way of considering issues that are material to our investments and can help protect and enhance the long-term value of the portfolios we manage.

The RBC GAM Proxy Voting Guidelines (“Guidelines”) summarize the corporate governance principles which we will generally support through the exercise of votes on these issues.

Proposals, including those on business issues specific to the issuer or those raised by shareholders of the issuer, are addressed on a case-by-case basis with a focus on the potential impact of the vote on shareholder value.

The Guidelines are applied in Canada, the United States, the United Kingdom, Ireland, Australia, and New Zealand. In all other markets, RBC GAM utilizes the local proxy voting guidelines of Institutional Shareholder Services Inc. (“ISS”).

For more information, please refer to the Guidelines.

The exercise of voting rights requires the ongoing review of the corporate governance and performance of management of an issuer, and the consideration of the potential impact of a vote on the value of the securities of the issuer held in our portfolios. In order to execute our fiduciary duty, RBC GAM accesses and utilizes research on management performance and corporate governance issues, drawn from portfolio manager and analyst due diligence, information provided by leading independent research firms and involvement in organizations such as the Canadian Coalition for Good Governance.

As part of the governance regime for our Funds, the Independent Review Committee oversees conflict of interest matters for the funds managed by RBC Global Asset Management Inc., including the RBC Funds, Phillips, Hager & North Funds, and RBC ETFs. This includes the review of the Funds' voting for Royal Bank of Canada shares. RBC GAM is a subsidiary of Royal Bank of Canada.

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Proxy voting resources

RBC GAM has a general approach to active stewardship, proxy voting, and engagement that addresses ESG matters among other matters. References to active stewardship do not apply to certain funds or investment strategies that do not undertake proxy voting and/or engagement activities, including, but not limited to, quantitative investment strategies that do not conduct engagements, passive strategies, and certain third-party sub-advised strategies. RBC GAM does not manage proxy voting for certain third-party sub-advised strategies.