RBC Global Asset Management Inc. announces November sales
results for RBC Funds and PH&N Funds
TORONTO, December 3, 2010 — RBC Global Asset
Management Inc. (RBC GAM) announced November net sales of
$380 million. Long-term funds had net sales of $784 million
and money market funds had net redemptions of $404 million.
Assets under management increased by $700 million or 0.6 per cent.
"It was a record November for RBC GAM, as long-term
net sales exceeded previous months and the previous year's
November sales results. We continued to lead the industry
in long-term mutual fund net sales as advisors and investors
appeared to seek higher yielding investments as part of their
strategy to redeploy cash," said Doug Coulter, president
of RBC Global Asset Management Inc. "RBC Funds and PH&N
Funds have proven to be favoured solutions with our comprehensive
selection of income-oriented products attracting strong inflows.
Of note, the RBC Global High Yield Fund was voted the best
fund in its category at the 2010 Canadian Investment Awards
and remains a consistent choice for investors."
The top selling RBC Funds® and PH&N Funds for November
included RBC Select Portfolios, RBC Managed Payout Solutions,
PH&N Monthly Income Fund, PH&N High Yield Bond Fund,
and RBC Monthly Income 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 Investment 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$203B,
£129B or €149B) in assets as of October 31, 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 approximately
$500 billion of assets under administration, $250 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:
Yen To, RBC Global Asset Management Communications,
Elyse Lalonde, RBC Media Relations, 416 974-8810