RBC Asset Management Inc. announced Friday that it would close its RBC Private Canadian Growth and Income Pool to new purchases on Sept. 1.
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The pool is subadvised by Greystone Managed Investments Inc. in Toronto.
The change will not affect existing investments in the pool, according to the Royal Bank of Canada subsidiary. Purchases through automatically reinvested distributions will continue unless unit holders instruct their dealers otherwise.
The investment strategy applied to the pool has produced rapid growth in assets in the past three years, the Toronto investment manager said. It closed the pool to new investments in order to preserve the best opportunity for continued success, it added.
