TORONTO, April 6, 2017 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced March mutual fund net sales of $1.1 billion. Long-term funds had net sales of $1.0 billion and money market funds had net sales of $99 million. Mutual fund assets under management increased by 1.1 per cent.
In addition, RBC GAM Inc. reported ETF sales of $490 million for the first quarter of calendar 2017. ETF assets under management increased by 24.7 per cent.
"Building on our strong momentum from February, we are pleased to see Canadians continue to trust in our diverse line-up of investment solutions to meet their financial goals," said Doug Coulter, president of RBC Global Asset Management Inc. "Investors and advisors continue to favour balanced products that strive for stability through diversification. This trend is reflected in the strong sales of RBC Select Portfolios, which recently surpassed the milestone of $70 billion in assets."
"We also continue to see strong demand for our suite of RBC ETFs," added Coulter. "In the first calendar quarter of 2017, we saw record sales of these solutions, and our ETF assets under management now surpass $2.7 billion."
Mutual fund 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.
Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the applicable prospectus or Fund Facts document before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC Global Asset Management Inc., an indirect wholly-owned subsidiary of Royal Bank of Canada.
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