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RBC Global Asset Management Inc. Announces
July Sales Results for RBC Funds and PH&N Funds
TORONTO, August 3, 2012 — RBC Global Asset Management
Inc. today announced July net sales of $120 million. Long-term
funds had net sales of $499 million and money market funds
had net redemptions of $379 million. Assets under management
increased by 0.4 per cent.
"Although the summer is a typically slower sales period,
we experienced one of our best Julys on record in terms of
long-term fund net sales. As such, we continued to capture
a significant portion of industry sales," said Doug Coulter,
president of RBC Global Asset Management Inc. "The ongoing
trend of investors and advisors seeking yield remained a strong
theme. As a result, the RBC
Monthly Income Bond Fund saw a steady increase of flows
over the course of the month, placing it among our top-selling
funds."
Sales results 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) 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 more than $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$560 billion of assets under administration,
more than C$322 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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