TORONTO, Dec. 5, 2013 /CNW/ - RBC Global Asset Management Inc. (RBC GAM)
today announced November net sales of $851 million. Long-term funds had
net sales of $955 million and money market funds had net redemptions of
$104 million. Assets under management increased by 1.4 per cent.
"It was a record month for RBC Global Asset Management, as we exceeded
all previous November long-term mutual fund net sales results," said
Doug Coulter, president of RBC GAM. "Sales of equity solutions have
rebounded and strong flows continued into balanced solutions, while the
demand for income-generating solutions remained strong. Accordingly,
the BlueBay Global Convertible Bond Fund (Canada), which seeks to
provide investors with a combination of income and capital growth
potential, continued to attract investment assets and in November was
again one of our top-selling funds."
Sales results information is based on preliminary data from the
Investment Funds Institute of Canada (IFIC).
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 $295 billion in assets and have approximately 1,100 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$639 billion of assets under administration, more than C$387
billion of assets under management and over 4,400 financial
consultants, advisors, private bankers, and trust officers. For more
information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2013. In the
United States, securities are offered through RBC Wealth Management, a
division of RBC Capital Markets, LLC, a wholly owned subsidiary of
Royal Bank of Canada. Member NYSE/FINRA/SIPC.
For further information:
Matt Gierasimczuk, RBC GAM Communications, 416 974-2124, email@example.com
Leah Commisso, RBC GAM Media Relations, 416 955-6498, firstname.lastname@example.org