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RBC Global Asset Management Inc. Announces
August Sales Results for RBC Funds and PH&N Funds
TORONTO, September 6, 2012 — RBC Global Asset Management Inc. today announced August net sales of $306 million. Long-term funds had net sales of $440 million and money market funds had net redemptions of $134 million. Assets under management increased by 1.1 per cent.
"Despite the summer months being known as a cyclically slower time, mutual fund sales during August remained positive. We continued to capture a significant portion of industry long-term mutual fund net sales," said Doug Coulter, president of RBC Global Asset Management Inc. "Our income-oriented products saw strong inflows as a result of investors and advisors continuing to look for yield in this low interest rate environment. As a result, our fixed income and equity income investment solutions were popular choices."
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$562 billion of assets under administration,
more than C$324 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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