RBC Global Services will be the sole custodian and fund valuator for the Legg Mason Canada funds, the companies said today.

The funds represent about $5 billion in assets under administration.

“By outsourcing our fund valuation to RBC, we have effectively consolidated our Canadian custody business with a single provider which is the leader in the industry,” Louise Tymocko, chief financial officer of Legg Mason Canada Inc. said in a statement.


Legg Mason Canada Inc., a wholly owned subsidiary of Baltimore-based Legg Mason, Inc., had about US$12 billion in assets under management as of Sept. 30, 2003. RBC Global Services, with $1.4 trillion in client assets under administration, is Canada’s largest custodian.