TORONTO, June 4, 2020 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced May mutual fund net sales of $807 million. Long-term funds had net sales of $155 million and money market funds had net sales of $652 million. Mutual fund assets under management increased by 2.4 per cent.
"During a period of ongoing market volatility in May, Canadian investors continued to seek out investment solutions that provide stability in their portfolios," said Doug Coulter, President of RBC Global Asset Management Inc. "Reflecting this trend, we have seen strong interest in our suite of fixed income solutions. Our best-selling solution during the month was the RBC High Yield Bond Fund, which helps investors diversify their fixed income holdings by offering exposure to high yield debt securities."
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 in Canada. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes 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 $480 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management
For further information: please contact: Brandon Dorey, [email protected], RBC GAM Corporate Communications, 416-955-7397