TORONTO, Feb. 6, 2019 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced January mutual fund net sales of $488 million. Long-term funds had net sales of $720 million and money market funds had net redemptions of $231 million. Mutual fund assets under management increased by 3.7 percent.
"Canadian investors continue to demonstrate commitment to maintaining and building their investment portfolios," said Doug Coulter, president of RBC Global Asset Management Inc. "Investors and advisors have been seeking trusted solutions that offer low downside risk and preservation of their investments. As such, the PH&N Total Return Bond Fund was one of our top-selling products in January."
Mutual fund 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 GAM Inc. and distributed through authorized dealers. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.
About RBC Global Asset 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 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 approximately $425 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Royal Bank
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498