Fideres provided comprehensive expert analysis supporting Investigation Counsel P.C. and Paul Bates Barrister in filing McCorquodale v. RBC Global Asset Management Inc. in British Columbia Supreme Court, alleging the asset management firm systematically overcharged investors through undisclosed “closet indexing” strategies in its flagship equity fund.

Fideres conducted detailed statistical analysis of the RBC Canadian Equity Fund’s portfolio composition and performance patterns, examining correlation coefficients, tracking error metrics, and active share measurements to demonstrate how the fund closely replicated the S&P/TSX Composite Index while charging management fees of 1.6% to 1.75% compared to passive index funds charging 0.05% to 0.25%. The expert analysis revealed systematic index-tracking behavior disguised as active management.

The comprehensive economic analysis, covering investment patterns from June 2005 onwards and representing hundreds of millions in potential damages, provided the statistical foundation that enabled the court to certify this landmark class action in 2021. Justice Gordon Funt ruled that Fideres’s expert analysis provided sufficient “basis in fact” for the closet indexing allegations, establishing important precedent for similar cases across Canada and positioning this as the second certified closet indexing class action in Canadian legal history.