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ROYAL TRUST GLOBAL TO ACQUIRE PERPETUAL FUND SERVICES.

AsiaPulse News

| August 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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SYDNEY, July 31 /CNW-AsiaNet/ - Royal Trust Global Securities Services, a unit of Royal Bank of Canada, today announced that it has completed the acquisition of Perpetual Fund Services (PFS), the custody, investment administration and unit registry business of Australian publicly listed company Perpetual Trustees Australia Limited.

The new Australian group, with client assets under administration of A$76 billion (C$61 billion) and annual revenue of approximately A$38 million, is one of the country's largest providers of outsourced back-office administration to fund managers. It will operate under the legal entity RBC Global Services Australia Pty. Limited and will be known in Australia as RBC Global Services.

Royal Trust Global Securities Services

A business unit within Royal Bank of Canada, the largest Canadian bank and seventh in North America based on corporate assets, Royal Trust Global Securities Services (GSS) is Canada's largest custodian and a leading provider of securities services worldwide with client assets under administration of A$1.5 trillion. GSS delivers settlement and safekeeping through its highly acclaimed agent network in 81 world markets, as well as fund administration, ...

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