RBC Global Asset Management Inc. announces March sales results
for RBC Funds and PH&N Funds
TORONTO, APRIL 5, 2011— RBC Global Asset Management
Inc. (RBC GAM) announced March net sales of $551 million.
Long-term funds had net sales of $972 million and money market
funds had net redemptions of $421 million. Assets under management
increased by $0.4 billion or 0.4 per cent.
"Our diverse range of long-term funds continued to gain
assets throughout the month of March. As such, we maintained
our position as an industry leader in long-term mutual fund
net sales," said Doug Coulter, president of RBC Global
Asset Management Inc. "Advisors and investors appeared
to display a less conservative stance as the focus moved away
from fixed income investments. Aligning with this trend, the
RBC Canadian Equity Income Fund continued to show strong growth
in sales. The fund recently won the Lipper award for the Best
Fund in the Canadian Small/Mid Cap Equity category for its
outstanding performance over three years."
The top selling RBC Funds and PH&N Funds for March included
RBC Select Portfolios, PH&N Monthly Income Fund, RBC Managed
Payout Solutions, RBC Canadian Dividend Fund, and RBC Canadian
Equity Income Fund.
Performance information is based on preliminary data from
the Investment Funds Institute of Canada (IFIC). 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
The 2011 Lipper Fund Award is based on the best risk-adjusted
performance over three-year periods ended October 31, 2010.
Lipper Inc. is a Thomson Reuters company.
Returns for RBC Canadian Equity Income Fund: six month, 24.2
per cent; one year, 24.0 per cent; three year, 17.1 per cent;
since inception (August 2006), 13.1 per cent, as of February
About RBC Global Asset Management and
RBC Wealth Management
RBC Global Asset Management (RBC GAM) is the asset management
division of Royal Bank of Canada (RBC) which includes institutional
money managers Phillips, Hager & North Investment Management
(PH&N), RBC Global Asset Management (U.S.) and BlueBay
Asset Management. RBC GAM is a provider of global investment
management services and solutions to individual, high net
worth and institutional investors through mutual funds, pooled
funds, hedge funds, segregated accounts and specialty investment
strategies. RBC GAM group of companies manage approximately
$250 billion in assets and have almost 1,000 employees located
across Canada, the United States, Europe and Asia.Website:
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 GAM Communications, 416 955 5916
Leah Commisso, RBC GAM Media Relations, 416 955 6498