TORONTO, Nov. 7, 2019 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced October mutual fund net sales of $695 million. Long-term funds had net sales of $744 million and money market funds had redemptions of $49 million. Mutual fund assets under management increased by 0.4 per cent.
"As Canadian investors remain mindful of market uncertainty, they are continuing to look for investments offering diversification for their portfolios," said Doug Coulter, president of RBC Global Asset Management Inc. "The RBC Select Portfolios, a suite of actively managed and diversified fund-of-funds solutions, attracted steady inflows throughout October and were our top-selling solutions."
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.
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 $450 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
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 86,000+ 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 more than 16 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-sustainability.
SOURCE RBC Global Asset Management Inc.
For further information: Brandon Dorey, RBC GAM Corporate Communications, 416-955-7397, [email protected]