TORONTO, Aug. 7, 2020 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced July mutual fund net sales of $80 million. Long-term funds had net redemptions of $17 million and money market funds had net sales of $97 million. Mutual fund assets under management increased by 2.9 percent.
"Investment solutions that provide stability remain top of mind for Canadian investors," said Doug Coulter, president of RBC Global Asset Management Inc. "Demonstrating this trend, our suite of fixed income solutions continued to receive strong interest. Notably, the best-selling solution in July was PH&N Short Term Bond & Mortgage Fund, which offers a well-diversified portfolio of Canadian short-term fixed income securities and first mortgages on properties located in Canada."
"Thanks to the trust of our clients, RBC Global Asset Management recently surpassed the milestone of $500 billion in assets under management across all of its global businesses. We are gratified by the ongoing trust that institutional and individual investors continue to place in RBC GAM and our diverse line-up of investment solutions."
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 in Canada. 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 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 $500 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
For further information: Brandon Dorey, RBC GAM Corporate Communications, [email protected], 416-955-7397