TORONTO, July 5, 2012 RBC Global Asset Management Inc. today announced June net sales of $241 million. Long-term funds had net sales of $275 million and money market funds had net redemptions of $34 million. Assets under management increased by 1.1 per cent.
"June was a positive month for our diverse lineup of funds, as we continued to capture a significant portion of industry long-term mutual fund net sales," said Doug Coulter, president of RBC Global Asset Management Inc. "As a result of the ongoing market volatility, advisors and investors appeared to seek funds that provided added value while controlling risk. The PH&N Total Return Bond Fund remained a favourite and saw strong inflows throughout the month."
For June, sales of RBC Funds, PH&N Funds and RBC Corporate Class were strong in the RBC Select Portfolios and RBC Managed Payout Solutions group of funds, as well as the mandates of Canadian Equity Income, High Yield Bond and Total Return Bond.
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) 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 $560 billion of assets under administration, over $322 billion of assets under management and more than 4,300 financial consultants, advisors, private bankers and trust officers.
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