TORONTO, Aug. 5, 2016 /CNW/ - RBC Global Asset Management Inc. today announced July mutual fund net sales of $1.0 billion. Long-term funds had net sales of $948 million and money market funds had net sales of $69 million. Assets under management increased by 3.2 per cent.
"July's strong results were buoyed by record levels of asset inflows into Canadian investors' monthly contribution plans," said Doug Coulter, president of RBC Global Asset Management Inc. "Our clients appear to be taking advantage of ongoing market volatility through the benefits of dollar-cost averaging and by regularly investing in our award-winning family of mutual funds."
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC) and only include Canadian prospectus qualified mutual funds.
RBC Global Asset Management won the award for Lipper Canada Best Bond Funds Group 2015 and Best Overall Funds Group 2014. The Lipper Awards were based on best risk-adjusted performance for periods ended July 31, 2015 and 2014, respectively. Lipper Inc. is a Thomson Reuters company. 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.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes 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 more than $370 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498, firstname.lastname@example.org