TORONTO, July 9, 2018 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced June mutual fund net sales of $332 million. Long-term funds had net sales of $230 million and money market funds had net sales of $102 million. Mutual fund assets under management increased by 0.8 percent.
"Investors continue to focus on adding diversification to their portfolios," said Doug Coulter, president of RBC Global Asset Management Inc. "Among our top-selling funds in June was the PH&N Global Equity Fund, which invests primarily in a diversified mix of equity securities of companies in the world's largest industrialized countries outside Canada, including the United States, Japan, Australia, and countries in Europe."
RBC GAM Inc. also reported ETF net redemptions of $59.7 million for the second quarter of calendar 2018, bringing total sales year to date to $357 million. ETF assets under management total $5.1 billion.
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 and exchange-traded funds (ETFs). Mutual funds and ETFs 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. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC GAM Inc., 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.
For further information: Leah Commisso, firstname.lastname@example.org, RBC GAM Corporate Communications, 416-955-6498