TORONTO, June 4, 2015 /CNW/ - RBC Global Asset Management Inc. today
announced May mutual fund net sales of $798 million. Long-term funds
had net sales of $721 million and money market funds had net sales of
$77 million. Assets under management increased by 0.8 per cent.
"We are pleased to continue to see steady inflows across our diverse
line-up of mutual funds," said Doug Coulter, president of RBC Global
Asset Management Inc. "Investor demand for products with long-term
growth and income potential remains strong. Reflecting this demand, the
RBC Balanced Growth & Income Fund, launched in August 2013, surpassed
the milestone of $1 billion in assets under management this month."
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 and Phillips, Hager & North Investment Management. RBC GAM
is a provider of global investment management services and solutions to
individual, high-net-worth and institutional investors through mutual
funds, exchange-traded funds, hedge funds, pooled funds, separate
accounts and specialty investment strategies. RBC GAM group of
companies manage more than $370 billion and have approximately 1,200
employees located across Canada, the United States, Europe and Asia.
RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC
Wealth Management directly serves affluent, high-net-worth and
ultra-high net worth clients globally with a full suite of banking,
investment, trust and other wealth management solutions, from our key
operational hubs in Canada, the United States, the British Isles, and
Asia. 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 GAM business. RBC Wealth
Management has more than C$747 billion of assets under administration,
more than C$481 billion of assets under management and approximately
4,100 financial consultants, advisors, private bankers, and trust
officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the
United States, securities are offered through RBC Wealth Management, a
division of RBC Capital Markets, LLC, a wholly owned subsidiary of
Royal Bank of Canada. Member NYSE/FINRA/SIPC.
For further information:
Leah Commisso, RBC GAM Corporate Communications, 416-955-6498
Matt Gierasimczuk, RBC GAM Corporate Communications, 416-974-2124