TORONTO, March 6, 2017 /CNW/ - RBC Global Asset Management Inc. today announced February mutual fund net sales of $1.9 billion. Long-term funds had record net sales of $1.8 billion and money market funds had net sales of $65 million. IFIC-reported mutual fund assets increased by 2.7 percent, and have surpassed $200 billion in assets under management.
"We are gratified to have experienced our strongest month ever in February, exceeding all previous long-term mutual fund net sales results and reaching the milestone of $200 billion in assets under management," said Doug Coulter, president of RBC Global Asset Management Inc. "We will continue to strive to earn the right be the first choice of Canadian investors and advisers."
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. RBC Funds, BlueBay Funds and PH&N Funds are offered by RBC Global Asset Management Inc. and distributed through authorized dealers.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes institutional money managers 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 $390 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498, firstname.lastname@example.org