TORONTO, Nov. 6, 2013 /CNW/ - RBC Global Asset Management Inc. today
announced October net sales of $91 million. Long-term funds had net
sales of $246 million and money market funds had net redemptions of $155 million.
Assets under management increased by 3.0 per cent.
"In October we continued to capture a significant portion of industry
long-term mutual fund net sales," said Doug Coulter, president of RBC
Global Asset Management Inc. "The search for yield continues to be top
of mind for many Canadian investors. As a result, the RBC Balanced Growth & Income Fund - a fund that aims to deliver portfolio stability, long-term growth
potential and a dependable source of income - reached the milestone of
$100 million in assets since its launch on August 12, 2013."
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, Phillips, Hager & North Investment Management and RBC
Global Asset Management (U.S.). RBC GAM is a provider of global
investment management services and solutions to individual,
high-net-worth and institutional investors through exchange-traded
funds, hedge funds, mutual funds, pooled funds, separate accounts and
specialty investment strategies. RBC GAM group of companies manage more
than $290 billion in assets and have approximately 1,000 employees
located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of the world's top 10 largest wealth managers*. RBC
Wealth Management directly serves affluent, high-net-worth and
ultra-high net worth clients in Canada, the United States, Latin
America, Europe, the Middle East, Africa, and Asia with a full suite of
banking, investment, trust and other wealth management solutions. 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 Global Asset Management business
(which includes BlueBay Asset Management). RBC Wealth Management has
more than C$615 billion of assets under administration, more than C$373
billion of assets under management and over 4,400 financial
consultants, advisors, private bankers, and trust officers. For more
information, please visit www.rbcwealthmanagement.com
*Scorpio Partnership Global Private Banking KPI Benchmark 2013. 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:
Connie Soave, RBC GAM Communications, 416 955-0577
Leah Commisso, RBC GAM Media Relations, 416 955-6498