TORONTO, April 5 /CNW/ - RBC Global Asset Management Inc. (RBC GAM)
announced March net sales of $551 million. Long-term funds had net
sales of $972 million and money market funds had net redemptions of
$421 million. Assets under management increased by $0.4 billion or 0.4
"Our diverse range of long-term funds continued to gain assets
throughout the month of March. As such, we maintained our position as
an industry leader in long-term mutual fund net sales," said Doug
Coulter, president of RBC Global Asset Management Inc. "Advisors and
investors appeared to display a less conservative stance as the focus
moved away from fixed income investments. Aligning with this trend, the
RBC Canadian Equity Income Fund continued to show strong growth in
sales. The fund recently won the Lipper award for the Best Fund in the
Canadian Small/Mid Cap Equity category for its outstanding performance
over three years."
The top selling RBC Funds and PH&N Funds for March included RBC Select
Portfolios, PH&N Monthly Income Fund, RBC Managed Payout Solutions, RBC
Canadian Dividend Fund, and RBC Canadian Equity Income Fund.
Performance information is based on preliminary data from the Investment
Funds Institute of Canada (IFIC). 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.
The 2011 Lipper Fund Award is based on the best risk-adjusted
performance over three-year periods ended October 31, 2010. Lipper
Inc. is a Thomson Reuters company.
Returns for RBC Canadian Equity Income Fund: six month, 24.2 per cent;
one year, 24.0 per cent; three year, 17.1 per cent; since inception
(August 2006), 13.1 per cent, as of February 28, 2011.
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) which includes institutional money
managers Phillips, Hager & North Investment Management (PH&N), RBC
Global Asset Management (U.S.) and BlueBay Asset Management. RBC GAM is
a provider of global investment management services and solutions to
individual, high net worth and institutional investors through mutual
funds, pooled funds, hedge funds, segregated accounts and specialty
investment strategies. RBC GAM group of companies manage approximately
$250 billion in assets and have almost 1,000 employees located across
Canada, the United States, Europe and Asia. 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:
Yen To, RBC GAM Communications, 416 955 5916
Leah Commisso, RBC GAM Media Relations, 416 955 6498