TORONTO, Sept. 6, 2011 /CNW/ - RBC Global Asset Management Inc. (RBC
GAM) announced August net sales of $21 million. Long-term funds had net
$137 million and money market funds had net redemptions of $116 million.
Assets under management decreased by 1.5 per cent.
"Despite market volatility during the month of August, our diverse
line-up of funds saw positive inflows as we maintained our position as
an industry leader in long-term mutual fund net sales," said Doug
Coulter, president of RBC Global Asset Management Inc. "The active risk
management and diversification of RBC Portfolio Solutions continued to
appeal to advisors and investors who favoured balanced and
risk-adjusted investment solutions."
The top selling RBC Funds and PH&N Funds for August included: RBC Select
Portfolios, PH&N Bond Fund, PH&N Monthly Income Fund, and PH&N Short
Term Bond & Mortgage 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
approximately 1,000 employees located across Canada, the United States,
Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management which is one of the world's top 10 largest wealth managers. RBC Wealth
Management directly serves affluent, high-net-worth and ultra high net
worth clients in Canada, the United States, Latin America, Europe, the
Middle East, Africa and Asia with a full suite of banking, investment,
trust and other wealth management solutions. The business also provides
asset management products and services directly and through RBC and
third-party distributors to institutional and individual clients,
through its RBC Global Asset Management business (which includes
BlueBay Asset Management). RBC Wealth Management has more than C$525
billion of assets under administration, more than C$310 billion of assets under management and approximately 4,500 financial
consultants, advisors, private bankers and trust officers.
For further information:
Yen To, RBC GAM Communications, 416 955-5916
Leah Commisso, RBC GAM Media Relations, 416 955-6498