TORONTO, April 6, 2016 /CNW/ - RBC Global Asset Management Inc. today announced March mutual fund net sales of $624 million. Long-term funds had net sales of $606 million and money market funds had net sales of $18 million. Assets under management increased by 3.5 per cent.
"In today's uncertain market, many Canadians are seeking investment solutions that can help them manage risk," said Doug Coulter, president of RBC Global Asset Management Inc. "As a result, a top seller this month was RBC QUBE Low Volatility Canadian Equity Fund. This Fund seeks to provide long-term growth and uses a quantitative investment approach. It surpassed the milestone of $1.5 billion in assets under management in March."
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).
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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