TORONTO, April 4, 2012 /CNW/ - RBC Global Asset Management Inc. (RBC GAM) announced March net sales of $609 million. Long-term funds had net sales of $784 million and money market funds had net redemptions of $175 million. Assets under management increased by 0.5 per cent.
"After another RRSP season, investors remained positive during the month of March, as we continued to see a significant portion of industry long-term mutual fund inflows," said Doug Coulter, president of RBC Global Asset Management Inc. "The demand for income generating solutions was a strong theme, which was reinforced by what we heard from our clients who were seeking yield in the low-interest rate environment. Aligned with this trend, our new suite of RBC Corporate Class Funds captured more than $350 million in assets since its launch in January 2012."
The top selling RBC Funds and PH&N Funds for March included: RBC Select Portfolios, RBC Canadian Equity Income Fund/Class, RBC Managed Payout Solutions, RBC High Yield Bond Fund/Class, and RBC Canadian Short-Term Income Fund.
About RBC Global Asset Management and RBC Wealth 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, Phillips, Hager & North Investment Management and RBC Global Asset Management (U.S.). RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through exchange-traded funds, hedge funds, mutual funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $250 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of the world's top 10 largest wealth managers. RBC Wealth Management directly serves affluent, high-net-worth and ultra high net worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$534 billion of assets under administration, more than C$313 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.
For further information: