TORONTO, December 5, 2011 RBC Global Asset Management Inc. (RBC GAM) announced November net sales of $195 million. Long-term funds had net sales of $340 million and money market funds had net redemptions of $145 million. Assets under management increased by 0.1 per cent.
"We continued to capture a significant portion of industry long-term mutual fund sales, as November proved to be a positive month for our diverse line-up of funds," said Doug Coulter, president of RBC Global Asset Management Inc. "Both our fund families were popular choice for investors, with our comprehensive selection of income-generating products attracting strong inflows during the market volatility. Notably, RBC Canadian Equity Income Fund was once more a top-selling fund and recently received the 2011 Canadian Investment Award for Best Canadian Dividend & Income Equity Fund."
The top selling RBC Funds and PH&N Funds for November included: RBC Select Portfolios, RBC Canadian Short-Term Income Fund, RBC Managed Payout Solutions, RBC Canadian Equity Income Fund, and RBC Bond Fund.
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 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 over $525 billion of assets under administration, over $305 billion of assets under management and more than 4,300 financial consultants, advisors, private bankers and trust officers.
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