TORONTO, Aug. 4, 2017 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced July mutual fund net sales of $951 million. Long-term funds had net sales of $840 million and money market funds had net sales of $111 million. Mutual fund assets under management decreased by 0.4 per cent.
"Canadian investors continue to favour stability and diversification," said Doug Coulter, president of RBC Global Asset Management Inc. "In July, we continued to see strong interest in RBC Select Portfolios, which offer five distinct portfolio solutions to help investors meet their individual goals."
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.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes RBC GAM Inc. and 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 $400 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498, [email protected]