[Update 1: clarifies amount of assets under management, as according to RBC GAM website] [Update 2: adds specialized mortgage investment platform strategy] The Royal Bank of Canada (RBC) is changing the name of its US-based real estate operations to RBC Global Asset Management (RBC GAM) from Voyageur Asset Management in an effort to offer a greater appeal to investors, with the headquarters located in Minneapolis. Voyageur started in 2008 in order to tap the US-base of institutional investors. The fixed-income department is typically focused on Treasury and GSE related investments. The RBC GAM specialized mortgage division, Access Capital Strategies, manages $687m in investments across 46 states. The core approach of Access Capital Strategies is to “create specialized mortgages and asset-backed securities that support low- and moderate-income homebuyers, affordable housing, education, health care and job creation in underserved communities,” according to its mission statement. Speaking on the rebrand, RBC GAM CEO Mike Lee said the new-look asset manager will offer clients new investment opportunities in the coming months: “Our new name reflects our shared values with RBC GAM, which reinforces our commitment to providing consistent investment excellence and exemplary client service to our clients in everything we do.” With combined assets of more than US$40.4bn, RBC GAM is actually made up of three separate entities. Besides the RBC, the new manager is also comprised of Canadian mutual fund manager Phillips, Hager & North, a Vancouver-based firm founded in 1964. The development comes on the heels of the announcement that the Ontario Teachers’ Pension Plan is announcing a definitive agreement to acquire American International Group’s, (AIG) Canadian mortgage insurance business. Write to Jacob Gaffney. Disclosure: the author holds no relevant investments.