TORONTO, Oct. 5, 2017 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced September mutual fund net sales of $578 million. Long-term funds had net sales of $522 million and money market funds had net sales of $55 million. Mutual fund assets under management increased by 1.1 percent.
"As Canadian investors consider their long-term financial goals, they are increasingly focused on solutions that offer low fees and quality investment management," said Doug Coulter, president of RBC GAM Inc. "We always strive to be Canadians' first choice, and our approach has helped us lead the industry in mutual fund sales over the past year."
In addition, RBC GAM Inc. reported ETF sales of $483 million for the third quarter of calendar 2017. ETF assets under management increased to $3.6 billion.
"We have focused on growing and diversifying our ETF line-up, which now includes 35 ETFs. Thanks to strong interest from Canadian investors and advisors, RBC Global Asset Management has grown to become the fifth-largest ETF provider in Canada," added Mark Neill, Head of RBC ETFs.
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.
Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the applicable prospectus or Fund Facts document before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC GAM Inc., 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 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 $390 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
For further information: Leah Commisso, firstname.lastname@example.org, RBC GAM Corporate Communications, 416-955-6498