TORONTO, July 7, 2016 /CNW/ - RBC Global Asset Management Inc. today announced June mutual fund net sales of $435 million. Long-term funds had net sales of $518 million and money market funds had net redemptions of $82 million. Assets under management increased by 0.02 per cent.
"As markets have remained unsettled, Canadian investors and advisors continue to seek solutions to help them manage risk and meet their long-term goals," said Doug Coulter, president of RBC Global Asset Management Inc. "As a result, our suite of RBC QUBE Low Volatility solutions, which use a quantitative investment approach and aim to provide investors with stable earnings and downside risk protection, were among some of our top sellers for the 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 $370 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498, email@example.com