TORONTO, Sept. 7, 2016 /CNW/ - RBC Global Asset Management Inc. today announced August mutual fund net sales of $787 million. Long-term funds had net sales of $831 million and money market funds had net redemptions of $45 million. Assets under management increased by 0.8 per cent.
"This was a record month for RBC Global Asset Management, as we exceeded all previous August long-term mutual fund sales results," said Doug Coulter, President of RBC Global Asset Management Inc. "At RBC, we are proud to offer a range of investment solutions that aim to manage risk and help Canadian investors meet their long-term financial goals. Investors and advisors continue to favour balanced products that strive for stability through diversification, as seen through the continued success of RBC Select Portfolios, which remained among our top sellers this month."
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC) and only include Canadian prospectus qualified mutual funds.
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 $385 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