TORONTO, April 4, 2013 /CNW/ - RBC Global Asset Management Inc. today
announced March net sales of $882 million. Long-term funds had net
sales of $949 million and money market funds had net redemptions of $68
million. Assets under management increased by 1.0 per cent.
"At the close of another successful RRSP season, we are pleased to see
such strong levels of sales as we continued to capture a significant
portion of industry long-term mutual fund net sales," said Doug
Coulter, president of RBC Global Asset Management Inc. "With recent
trends in global markets, clients appear to be taking the opportunity
to evaluate and rebalance their portfolios to ensure that their
investment goals are being achieved. Notably, our selection of balanced
products including RBC Select Portfolios and the PH&N Monthly Income
Fund saw steady inflows throughout the month of March."
Sales results information is based on preliminary data from the
Investment Funds Institute of Canada (IFIC).
About RBC Global Asset Management and RBC Wealth 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, Phillips, Hager & North Investment Management and RBC
Global Asset Management (U.S.). RBC GAM is a provider of global
investment management services and solutions to individual,
high-net-worth and institutional investors through exchange-traded
funds, hedge funds, mutual funds, pooled funds, separate accounts and
specialty investment strategies. RBC GAM group of companies manage more
than $280 billion in assets and have approximately 1,000 employees
located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of the world's top 10 largest wealth managers. RBC Wealth
Management directly serves affluent, high-net-worth and
ultra-high-net-worth clients in Canada, the United States, Latin
America, Europe, the Middle East, Africa and Asia with a full suite of
banking, investment, trust and other wealth management solutions. The
business also provides asset management products and services directly
and through RBC and third-party distributors to institutional and
individual clients, through its RBC Global Asset Management business
(which includes BlueBay Asset Management). RBC Wealth Management has
more than C$593 billion of assets under administration, more than C$353
billion of assets under management and approximately 4,300 financial
consultants, advisors, private bankers and trust officers.
For further information:
Jeff Keay, RBC GAM Communications, 416 955-0577
Leah Commisso, RBC GAM Media Relations, 416 955-6498