RBC Global Asset Management Inc. announces October sales
results for RBC Funds and PH&N Funds
TORONTO, November 3, 2010 — RBC Global Asset
Management Inc. (RBC GAM) announced October net sales of $394
million. Long-term funds had net sales of
$776 million and money market funds had net redemptions of
$382 million. Assets under management increased by $1.7 billion
or 1.7 per cent.
"We held our industry-leading position in net sales
once again, as October proved to be an exceptional month for
our long-term mutual funds," said Doug Coulter, president
of RBC Global Asset Management Inc. "Given the low interest
rate environment and the record level of investment dollars
in cash and cash equivalent products, advisors and investors
continued to favour our income-oriented investment solutions.
This is a positive indicator for the RBC Monthly Income Bond
Fund, which was launched in October and offers investors a
diversified portfolio of bond mutual funds from our two award-winning
fund families: PH&N Funds and RBC Funds."
The top selling RBC Funds® and PH&N Funds for October
included RBC Select Portfolios, PH&N High Yield Bond Fund,
RBC Managed Payout Solutions, PH&N Monthly Income Fund,
and PH&N Short Term Bond & Mortgage Fund.
Please read the prospectus before investing. There may be
commissions, trailing commissions, management fees and expenses
associated with mutual fund investments. Mutual funds are
not guaranteed, their values change frequently and past performance
may not be repeated.
About RBC Global Asset Management and
RBC Wealth Management
The RBC Global Asset Management (RBC GAM) brand comprises
investment services and solutions offered by RBC Global Asset
Management Inc., RBC Global Asset Management (U.S.) Inc.,
RBC Asset Management U.K. Ltd. and RBC Investments Management
(Asia) Ltd. The group of companies form the asset management
division of Royal Bank of Canada (RBC), a global institution
with the reputation of stability and strength. RBC GAM group
of companies manage
approximately C$200 billion (US$188 billion, £118 billion
or €136 billion) in assets as of September 30, 2010.
RBC Global Asset Management Inc. is the manager of RBC Funds
and PH&N Funds. PH&N Funds won the Lipper Awards for
"Best Overall Fund Group" in 2010 and "Best
Bond Fund Family" in 2007, 2008 and 2010; RBC Funds won
the Lipper Awards for "Best Bond Fund Family" in
2009 and "Best Overall Fund Group" in 2007 and 2008.
Lipper Fund Awards were awarded based on the best risk-adjusted
performance over the three-year periods ended December 31
of the previous year. Website: www.rbcgam.com.
RBC Global Asset Management is part of
RBC Wealth Management which directly serves affluent and high
net worth clients in Canada, the United States, Latin America,
Europe and Asia. RBC Wealth Management provides integrated
and diversified international wealth management expertise
and solutions, asset management and trust services to high
net worth individuals and to corporate and institutional clients.
Services provided by RBC Wealth Management consultants, advisors,
private bankers and trust officers include trust and estate
planning, tax advice, discretionary investment management
and investment advisory services, structured solutions, banking,
lending and global custody. RBC Wealth Management has more
than $490 billion of assets under administration, nearly $240
billion of assets under management and more than 4,500 financial
consultants, advisors, private bankers and trust officers.
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For more information, please contact:
RBC Global Asset Management Communications, 416 955-5916
Elyse Lalonde, RBC Media Relations, 416 974-8810