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RBC Global Asset Management Inc. Announces
January Sales Results for RBC Funds and PH&N Funds
TORONTO, February 3, 2012 —RBC Global Asset
Management Inc. (RBC GAM) announced January net sales of $752
million. Long-term funds had net sales of $991 million and
money market funds had net redemptions of $239 million. Assets
under management increased by 2.8 per cent.
"It was a positive first month for 2012, as we continued
to capture a significant portion of industry long-term mutual
fund sales," said Doug Coulter, president of RBC Global
Asset Management Inc. "Advisors and investors continued
to favour income generating products, driving assets into
the RBC
Canadian Equity Income Fund, which was awarded best fund
in its category at this year's Morningstar Canadian Investment
Awards and has recently reached over $1 billion in assets.
We've also experienced strong sales with the new suite of
RBC
Corporate Class Funds, which had inflows of over $100
million since its launch on January 16, 2012."
The top selling RBC Funds and PH&N Funds for January
included: RBC Select Portfolios, PH&N Bond Fund, RBC Canadian
Equity Income Fund, RBC Canadian Short-Term Income Fund, and
RBC Managed Payout Solutions.
Performance information is based on preliminary data from
the Investment Funds Institute of Canada (IFIC)
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), and includes institutional
money managers BlueBay Asset Management, Phillips, Hager &
North Investment Management and RBC Global Asset Management
(U.S.). RBC GAM is a provider of global investment management
services and solutions to individual, high-net-worth and institutional
investors through exchange-traded funds, hedge funds, mutual
funds, pooled funds, separate accounts and specialty investment
strategies. RBC GAM group of companies manage approximately
$250 billion in assets and have approximately 1,000 employees
located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC
Wealth Management which is one of the world's top 10 largest
wealth managers. RBC Wealth Management directly serves affluent,
high-net-worth and ultra high-net-worth clients in Canada,
the United States, Latin America, Europe, the Middle East,
Africa and Asia with a full suite of banking, investment,
trust and other wealth management solutions. The business
also provides asset management products and services directly
and through RBC and third-party distributors to institutional
and individual clients, through its RBC Global Asset Management
business (which includes BlueBay Asset Management). RBC Wealth
Management has more than C$525 billion of assets under administration,
more than C$305 billion of assets under management and approximately
4,300 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
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