RBC Global Asset Management Inc. Announces July Sales Results for RBC Funds
and PH&N Funds
TORONTO, Aug. 3, 2012 /CNW/ - RBC Global Asset Management Inc. today announced
July net sales of $71 million. Long-term funds had net sales of $450 million
and money market funds had net redemptions of $379 million. Assets under
management increased by 0.4 per cent.
"Although the summer is a typically slower sales period, we experienced one of
our best Julys on record in terms of long-term fund net sales. As such, we
continued to capture a significant portion of industry sales," said Doug
Coulter, president of RBC Global Asset Management Inc. "The ongoing trend of
investors and advisors seeking yield remained a strong theme. As a result, the
RBC Monthly Income Bond Fund saw a steady increase of flows over the course of
the month, placing it among 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 $250 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$560
billion of assets under administration, more than C$322 billion of assets
under management and approximately 4,300 financial consultants, advisors,
private bankers and trust officers.
Yen To, RBC GAM Communications, 416 955-5916 Leah Commisso, RBC GAM Media
Relations, 416 955-6498
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CO: RBC Global Asset Management
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-0- Aug/03/2012 13:00 GMT
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