TORONTO, March 5, 2015 /CNW/ - RBC Global Asset Management Inc. today announced February mutual fund net sales of $1.5 billion. Long-term funds had net sales of $1.6 billion and money market funds had net redemptions of $52 million. Assets under management increased by 2.8 per cent.
"February proved to be a tremendous month for RBC Global Asset Management, as we exceeded all previous February sales results," said Doug Coulter, president of RBC Global Asset Management Inc. "Throughout this year's RRSP season, our diverse line-up of products with long-term growth and income potential remained popular choices among investors and advisors. Accordingly, our suite of income-generating solutions remained significant contributors to our sales success in February."
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 and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $370 billion and have approximately 1,200 employees located across Canada, the United States, Europe and Asia.
RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC Wealth Management directly serves affluent, high-net-worth and ultra-high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. 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 GAM business. RBC Wealth Management has more than C$767 billion of assets under administration, more than C$480 billion of assets under management and approximately 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 2014. 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.
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