Royal Bk Can - RY STOCK NEWS

At the 2022 RBC Heritage in Hilton Head Island, S.C., Team RBC players Dustin Johnson and Harold Varner III faced off in a golf skills challenge. Varner III won, securing a $10,000 donation from RBC, split between the HV3 Foundation and the Heritage Classic Foundation. The event included challenges like Flop Shot and Carolinas Trivia, drawing a large crowd. Shannon Cole, RBC's VP of Brand Marketing, praised the friendly competition, highlighting the charitable contributions from Varner's victory.

RBC Global Asset Management (U.S.) Inc. has launched the RBC China Equity Fund for U.S. investors, targeting a diverse range of industries in China. Managed by Siguo Chen and Mayur Nallamala, the fund will primarily invest in common stocks and depositary receipts, focusing on companies with strong management and risk management records. This is the first mutual fund offered to U.S. investors from RBC's Asian Equity team. The fund integrates ESG considerations into its fundamental analysis and is available in Class A, I, and R6 shares.

Royal Bank of Canada (RY) is set to acquire Brewin Dolphin for 515 pence per share, valuing the deal at approximately C$2.6 billion (£1.6 billion). Brewin Dolphin, a leading UK wealth management provider, offers discretionary services with £59 billion in assets under management. This acquisition aims to enhance RBC's market position to third in the UK and Ireland, fostering growth and synergies. Projected benefits include a 1% adjusted EPS accretion in the first year and a long-term revenue CAGR of approximately 9%. Completion is anticipated by Q3 2022, pending regulatory and shareholder approvals.

RBC Global Asset Management (U.S.) has launched the RBC Global Equity Leaders Fund aimed at U.S. investors. This Fund will invest in a concentrated portfolio of large-cap global companies, focusing on delivering alpha through stock-specific risks and emphasizing strong management alongside ESG practices. Led by a seasoned Global Equity Team, the fund aims for long-term sustainable change and aims to capture alpha through ESG integration. It is available in multiple share classes, namely Class I, Class A, and Class R6.

RBC, in collaboration with Golf Canada, launched the RBC Community Junior Golf Program aimed at enhancing affordable access to golf for youth in underrepresented communities in Canada. PGA golfer Harold Varner III will serve as an ambassador, guiding youth through golf programming. By 2023, the initiative plans to engage over 10,000 young players with free golf lessons and reduced green fees. RBC’s broader commitment includes a $500 million investment in Canadian youth through the Future Launch initiative.

RBC Race for the Kids will be hosted in a global virtual format on October 16-17, 2021. Registration is now open for participants of all abilities, featuring a new mobile app that enhances engagement. In 2020, the event raised $8.8 million for youth-focused charities. This year, participants can select their distance, track performance, and connect socially using the app. RBC has a history of supporting over 35 charities globally, with total funds raised exceeding $65 million through this initiative.