TORONTO, January 6, 2011— RBC Global Asset Management Inc. (RBC GAM) announced December net sales of $131 million. Long-term funds had net sales of $416 million and money market funds had net redemptions of $285 million. Assets under management increased by $2.2 billion or 2.1 per cent.
"December marked another strong month for RBC GAM and we again finished in the industry's leading position in long-term mutual fund net sales," said Doug Coulter, president of RBC Global Asset Management Inc. "Renewed investor confidence has translated into a tremendous vote of confidence for the RBC Funds and PH&N Funds. In this environment, our balanced- and fixed-income solutions continued to be strong drivers of sales as Canadian investors came away from the sidelines. In particular, the PH&N Monthly Income Fund, which celebrates its first year of operations in January, is one of our top-selling funds among investors seeking stable and conservative income."
The top selling RBC Funds® and PH&N Funds for December included RBC Select Portfolios, RBC Managed Payout Solutions, PH&N Bond Fund, PH&N Monthly Income Fund, and RBC Monthly Income Fund.
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About RBC Global Asset Management and
RBC Wealth Management
The RBC Global Asset Management (RBC GAM) brand comprises investment services and solutions offered by RBC Global Asset Management Inc., RBC Global Asset Management (U.S.) Inc., RBC Asset Management U.K. Ltd. and RBC Investment Management (Asia) Ltd. The group of companies form the asset management division of Royal Bank of Canada (RBC), a global institution with the reputation of stability and strength. RBC GAM group of companies manage approximately C$200 billion (US$203B, £129B or €149B) in assets as of October 31, 2010. RBC Global Asset Management Inc. is the manager of RBC Funds and PH&N Funds. PH&N Funds won the Lipper Awards for "Best Overall Fund Group" in 2010 and "Best Bond Fund Family" in 2007, 2008 and 2010; RBC Funds won the Lipper Awards for "Best Bond Fund Family" in 2009 and "Best Overall Fund Group" in 2007 and 2008. Lipper Fund Awards were awarded based on the best risk-adjusted performance over the three-year periods ended December 31 of the previous year. Website: www.rbcgam.com.
RBC Global Asset Management is part of RBC Wealth Management which directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia. RBC Wealth Management provides integrated and diversified international wealth management expertise and solutions, asset management and trust services to high net worth individuals and to corporate and institutional clients. Services provided by RBC Wealth Management consultants, advisors, private bankers and trust officers include trust and estate planning, tax advice, discretionary investment management and investment advisory services, structured solutions, banking, lending and global custody. RBC Wealth Management has approximately $500 billion of assets under administration, $250 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.
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For more information, please contact:
Elyse Lalonde, RBC Media Relations, 416 974-8810