TORONTO, FEBRUARY 3, 2011— RBC Global Asset
Management Inc. (RBC GAM) announced January net sales of $614
million. Long-term funds had net sales of
$1.0 billion and money market funds had net redemptions of $412 million. Assets under management increased by $1.2 billion or 1.1 per cent.
"It was a record first month for 2011, as we saw strong inflows and continued to be an industry leader in long-term mutual fund net sales," said Doug Coulter, president of RBC Global Asset Management Inc. "With RRSP contributions top of mind, advisors and investors appeared to favour balanced and income funds, driving assets into RBC Portfolio Solutions and PH&N Monthly Income Fund. As a result, the PH&N Monthly Income Fund reached $1 billion in assets, making it our fastest growing fund to date and marking a significant milestone that coincides with its one-year anniversary."
The top selling RBC Funds and PH&N Funds for January included RBC Select Portfolios, PH&N Monthly Income Fund, RBC Managed Payout Solutions, RBC Dividend Fund and RBC Monthly Income Fund.
Performance information is based on preliminary data from
the Investment Funds Institute of Canada (IFIC). Please read
the prospectus before investing. There may be commissions,
trailing commissions, management fees and expenses associated
with mutual fund investments. Mutual funds are not guaranteed,
their values change frequently and past performance may not
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 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 approximately
$250 billion in assets and have almost 1,000 employees located across Canada, the United States, Europe and Asia. Website
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:
Yen To, RBC GAM Communications, 416 955-5916
Leah Commisso, RBC GAM Media Relations, 416 955-6498