TORONTO, May 5, 2016 /CNW/ - RBC Global Asset Management Inc. today announced April mutual fund net sales of $595 million. Long-term funds had net sales of $855 million and money market funds had net redemptions of $260 million. Assets under management increased by 0.3 per cent.
"In today's volatile market, many Canadians are looking for solutions that help manage risk through diversification," said Doug Coulter, president of RBC Global Asset Management Inc. "As a result, RBC Select Portfolios, which offers a wide range of diversification options across regions, companies and industries, remained one of our top sellers."
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).
Please consult your advisor and read the prospectus or Fund Facts document 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
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage more than $380 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
For further information: Leah Commisso, firstname.lastname@example.org, RBC GAM Corporate Communications, 416-955-6498