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RBC Global Asset Management Inc. Announces
November Sales Results for RBC Funds and PH&N Funds
TORONTO, December 5, 2012 - RBC Global Asset Management
Inc. today announced November net sales of $613 million. Long-term
funds had net sales of $864 million and money market funds
had net redemptions of $251 million. Assets under management
increased by 0.7 per cent.
"Our November long-term sales results set a new record,
exceeding all other previous Novembers," said Doug Coulter,
president of RBC Global Asset Management Inc. "We saw
strong inflows across our diverse line-up of funds. Most notably,
our recently launched suite of RBC Corporate Class Funds hit
the milestone of $1 billion in assets during the month."
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 $270
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$577 billion of assets under administration,
more than C$339 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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