A mutual fund investment management unit subsidiary of the Royal Bank of Canada has launched a prospectus for the City National Rochdale Reinsurance Premium Fund, a new ILS and reinsurance interval investment fund.
The interval ILS and reinsurance linked mutual investment fund is being offered to investors by investment advisor City National Rochdale, LLC, which is a wholly-owned subsidiary of City National Bank, which is in turn a wholly-owned subsidiary of an entity named RBC USA Holdco Corporation, which is a wholly-owned indirect subsidiary of Royal Bank of Canada.
Royal Bank of Canada and Los Angeles-based City National Bank merged in November 2015, bringing investment manager City National Rochdale into its fold, as an asset manager focused on creating and managing personalised portfolios for high-net-worth individuals, families, and foundations.
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