TORONTO, Oct. 6, 2015 /CNW/ - RBC Global Asset Management Inc. today announced September mutual fund net sales of $377 million. Long-term funds had net sales of $423 million and money market funds had net redemptions of $47 million. Assets under management decreased by 1.2 per cent.
"Canadians continue to trust RBC GAM's investment solutions and expertise in helping them reach their investment goals," said Doug Coulter, president of RBC Global Asset Management Inc. "Income-generating solutions remain popular among investors and advisors. As a result, the PH&N Total Return Bond Fund, a fund that seeks to provide long-term growth and a consistent level of income, was a preferred choice this past month."
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).
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.
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 and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $380 billion and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC Wealth Management directly serves affluent, high net worth and ultra high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. 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 GAM business. RBC Wealth Management has more than C$778 billion of assets under administration, more than C$503 billion of assets under management and approximately 4,050 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2015. 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:
Leah Commisso, RBC GAM Corporate Communications, 416-955-6498