TORONTO, Aug. 7, 2018 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced July mutual fund net sales of $524 million. Long-term funds had net sales of $549 million and money market funds had net redemptions of $26 million. Mutual fund assets under management increased by 1 percent.
"Investors and advisors continue to favour balanced solutions, which offer stability and diversification," said Doug Coulter, president of RBC Global Asset Management Inc. "This trend is demonstrated by strong sales of our RBC Select Portfolios, which in July surpassed $85 billion in assets."
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 Royal Bank of Canada
For further information: Leah Commisso, RBC GAM Corporate Communications, 416-955-6498, [email protected]