TORONTO, Jan. 6 /CNW/ - RBC Global Asset Management Inc. (RBC GAM)
announced December net sales of $131 million. Long-term funds had net
sales of $416 million and money market funds had net redemptions of
$285 million. Assets under management increased by $2.2 billion or 2.1
"December marked another strong month for RBC GAM and we again finished
in the industry's leading position in long-term mutual fund net sales,"
said Doug Coulter, president of RBC Global Asset Management Inc.
"Renewed investor confidence has translated into a tremendous vote of
confidence for the RBC Funds and PH&N Funds. In this environment, our
balanced- and fixed-income solutions continued to be strong drivers of
sales as Canadian investors came away from the sidelines. In
particular, the PH&N Monthly Income Fund, which celebrates its first
year of operations in January, is one of our top-selling funds among
investors seeking stable and conservative income."
The top selling RBC Funds® and PH&N Funds for December included RBC
Select Portfolios, RBC Managed Payout Solutions, PH&N Bond Fund, PH&N
Monthly Income Fund, and RBC Monthly Income Fund.
Please read the prospectus 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 and RBC Wealth Management
The RBC Global Asset Management (RBC GAM) brand comprises investment
services and solutions offered by RBC Global Asset Management Inc., RBC
Global Asset Management (U.S.) Inc., RBC Asset Management U.K. Ltd. and
RBC Investment Management (Asia) Ltd. The group of companies form the
asset management division of Royal Bank of Canada (RBC), a global
institution with the reputation of stability and strength. RBC GAM
group of companies manage approximately C$200 billion (US$203B, £129B
or €149B) in assets as of October 31, 2010. RBC Global Asset Management
Inc. is the manager of RBC Funds and PH&N Funds. PH&N Funds won the
Lipper Awards for "Best Overall Fund Group" in 2010 and "Best Bond Fund
Family" in 2007, 2008 and 2010; RBC Funds won the Lipper Awards for
"Best Bond Fund Family" in 2009 and "Best Overall Fund Group" in 2007
and 2008. Lipper Fund Awards were awarded based on the best
risk-adjusted performance over the three-year periods ended December 31
of the previous year. Website: www.rbcgam.com.
RBC Global Asset Management is part of RBC Wealth Management which
directly serves affluent and high net worth clients in Canada, the
United States, Latin America, Europe and Asia. RBC Wealth Management
provides integrated and diversified international wealth management
expertise and solutions, asset management and trust services to high
net worth individuals and to corporate and institutional clients.
Services provided by RBC Wealth Management consultants, advisors,
private bankers and trust officers include trust and estate planning,
tax advice, discretionary investment management and investment advisory
services, structured solutions, banking, lending and global custody.
RBC Wealth Management has approximately $500 billion of assets under
administration, $250 billion of assets under management and more than
4,500 financial consultants, advisors, private bankers and trust
For further information:
Elyse Lalonde, RBC Media Relations, 416 974-8810