RBC Global Asset Management Inc. (RBC GAM) Tuesday announced that it has been selected to manage a global natural resources mandate by China’s National Council for Social Security Fund (NCSSF).
“It is an honour to be selected by China’s National Council for Social Security Fund as a manager for their global natural resources mandate,” said John Montalbano, CEO of RBC GAM “This is a prestigious appointment from one of the world’s largest pension funds and is a reflection of RBC Global Asset Management’s role as a leading provider of global natural resources investment capabilities.”
The NCSSF is a supplementary fund of the People’s Republic of China, and is responsible for the management and operation of the country’s National Social Security Fund.
The fund serves as the social security strategic reserve centralized by the Chinese government to meet the social security needs during the peak time period of China’s future aging population.
“This announcement is historically significant and reflects our ambitious international growth strategy,” added Montalbano.
Last week, AGF Investments Inc. was awarded a similar mandate by the NCSSF.