TORONTO, June 6, 2016 /CNW/ - RBC Global Asset Management Inc. today announced May mutual fund net sales of $819 million. Long-term funds had net sales of $798 million and money market funds had net sales of $21 million. Assets under management increased by 2.5 per cent.
"We have always been proud to offer investments solutions that fit the diverse needs of Canadian investors. This range of options is especially important in the face of volatile markets," said Doug Coulter, president of RBC Global Asset Management Inc. "Over the past month, the RBC Select Portfolios, which aim to provide stability through diversification, remained among our top sellers and collectively surpassed the milestone of $60 billion in assets."
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).
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 $380 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498, email@example.com