TORONTO, Nov. 5, 2012 /CNW/ - RBC Global Asset Management Inc. today
announced October net sales of $465 million. Long-term funds had net
sales of $643 million and money market funds had net redemptions of
$178 million. Assets under management increased by 0.9 per cent.
"In the past twelve months, we have had the highest long-term net sales
on record," said Doug Coulter, president of RBC Global Asset Management
Inc. "In addition, October saw increased sales in our balanced funds.
As a result of this trend, RBC Select Portfolios, Canada's largest
suite of portfolio solutions, has reached the milestone of $25 billion
in assets under management."
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 $265 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$562
billion of assets under administration, more than C$324 billion of
assets under management and approximately 4,300 financial consultants,
advisors, private bankers and trust officers.
For further information:
Yen To, RBC GAM Communications, 416 955-5916
Leah Commisso, RBC GAM Media Relations, 416 955-6498