TORONTO, Feb. 3 /CNW/ - 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
"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 be repeated.
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: www.rbcgam.com.
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
For further information:
Yen To, RBC GAM Communications, 416 955 5916
Leah Commisso, RBC GAM Media Relations, 416 955 6498