TORONTO, Oct. 6, 2016 /CNW/ - RBC Global Asset Management Inc. today announced September mutual fund net sales of $523 million. Long-term funds had net sales of $644 million and money market funds had net redemptions of $121 million. Assets under management increased by 0.8 per cent.
"As markets remain volatile, risk management remains top of mind for many Canadian investors," said Doug Coulter, president of RBC Global Asset Management Inc. "Our suite of RBC QUBE Low Volatility investment solutions, which aim to provide long-term growth and use a custom risk model designed to measure and forecast risk, were among our top selling investment solutions for the month."
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.
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 $ 385 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management
For further information: Leah Commisso (firstname.lastname@example.org), RBC GAM Corporate Communications, 416-955-6498