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RBC Global Asset Management Inc. Announces
October Sales Results for RBC Funds and PH&N Funds
TORONTO, November 5, 2012 - RBC Global Asset Management
Inc. today announced October net sales of $465 million. Long-term
funds had net sales of $643 million and money market funds
had net redemptions of $178 million. Assets under management
increased by 0.9 per cent.
"In the past twelve months, we have had the highest long-term
net sales on record," said Doug Coulter, president of
RBC Global Asset Management Inc. "In addition, October
saw increased sales in our balanced funds. As a result of
this trend, RBC Select Portfolios, Canada's largest suite
of portfolio solutions, has reached the milestone of $25 billion
in assets under management."
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), 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 more than $265 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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