RBC Global Asset Management Inc. announces April sales results
for RBC Funds and PH&N Funds
TORONTO, MAY 4, 2011— RBC Global Asset Management
Inc. (RBC GAM) announced April net sales of $297 million.
Long-term funds had net sales of $614 million and money market
funds had net redemptions of $317 million. Assets under management
increased by $500 million or 0.4 per cent.
"Coming out of RRSP season, April proved to be a record
month, as long-term mutual fund net sales exceeded all other
previous April sales results. We continued to be an industry
leader with strong inflows across our diverse lineup of funds,"
said Doug Coulter, president of RBC Global Asset Management
Inc. "Advisors and investors appeared to continue favouring
yield and, as a result, the PH&N Monthly Income Fund remained
one of our top-selling funds."
The top selling RBC Funds and PH&N Funds for April included
RBC Select Portfolios, PH&N Monthly Income Fund, RBC Managed
Payout Solutions, RBC Canadian Dividend Fund, and RBC $U.S.
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
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
$550 billion of assets under administration, $300 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