TORONTO, April 4, 2012 RBC Global Asset Management Inc. (RBC GAM) announced March net sales of $609 million. Long-term funds had net sales of $784 million and money market funds had net redemptions of $175 million. Assets under management increased by 0.5 per cent.
"After another RRSP season, investors remained positive during the month of March, as we continued to see a significant portion of industry long-term mutual fund inflows," said Doug Coulter, president of RBC Global Asset Management Inc. "The demand for income generating solutions was a strong theme, which was reinforced by what we heard from our clients who were seeking yield in the low-interest rate environment. Aligned with this trend, our new suite of RBC Corporate Class Funds captured more than $350 million in assets since its launch in January 2012."
The top selling RBC Funds and PH&N Funds for March included: RBC Select Portfolios, RBC Canadian Equity Income Fund/Class, RBC Managed Payout Solutions, RBC High Yield Bond Fund/Class, and RBC Canadian Short-Term Income 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 $534 billion of assets under administration, over $313 billion of assets under management and more than 4,300 financial consultants, advisors, private bankers and trust officers.
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