The account servicing will be provided in Luxembourg, according to the company.
Polaris director Alessandro Penati said that RBC Investor & Treasury Services has good experience of managing complex pooling structures and fund servicing, securities lending and collateral management.
RBC Investor & Treasury Services Italy managing director Mauro Dognini commented, "This is an important mandate for us with the leading emerging actor in the Italian fund industry."
"Asset managers and institutional investors are an increasing strategic focus for RBC Investor & Treasury Services in Italy."
Formed in February 2004, Polaris operates as one of the largest Italian platform domiciled in Luxembourg, and manages over €6bn of assets belonging to institutional investors.
RBC Investor & Treasury Services, part of Royal Bank of Canada, delivers custody, payments and treasury services for financial and other institutional investors across the globe.
