TORONTO, Feb. 4, 2016 /CNW/ - RBC Global Asset Management Inc. today announced January mutual fund net redemptions of $179 million. Long-term funds had net redemptions of $90 million and money market funds had net redemptions of $89 million. Assets under management decreased by 1.5 per cent.
"With recent uncertainty in the markets, some investors are pausing as they consider their options," said Doug Coulter, president of RBC Global Asset Management Inc. "Nevertheless, many Canadian investors and advisors continue to invest for the long term. As a result, growth-oriented funds such as the RBC Global Dividend Growth Fund were among our most popular solutions in January."
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