TORONTO, June 6, 2017 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced May mutual fund net sales of $1.0 billion. Long-term funds had net sales of $1.0 billion and money market funds had net sales of $19 million. Mutual fund assets under management increased by 0.6 percent.
"It was a record month for RBC Global Asset Management, as we exceeded all previous May long-term mutual fund net sales results," said Doug Coulter, president of RBC Global Asset Management Inc. "We are pleased to see Canadians continue to trust in our broad line-up of investment solutions to meet their financial goals. Portfolio diversification remains an important factor for investors and advisors. As a result, we continue to see strong flows into our global investment solutions, including the RBC International Equity Fund, which has now surpassed $1 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 Global Asset Management 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 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 more than $400 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Royal Bank
For further information: Leah Commisso, firstname.lastname@example.org, RBC GAM Corporate Communications, 416-955-6498