RBC Global Asset Management Inc. announces February sales results for RBC
funds and PH&N funds
TORONTO, March 6, 2013 /CNW/ - RBC Global Asset Management Inc. today
announced February net sales of $1.2 billion. Long-term funds had net sales of
$1.3 billion and money market funds had net redemptions of $142 million.
Assets under management increased by 2.3 per cent.
"February proved to be another strong month for us," said Doug Coulter,
president of RBC Global Asset Management Inc. "We continued to capture a
significant portion of industry long-term mutual fund sales during another
busy RRSP season. Our RBC Select Portfolios proved to be a particular
favourite among investors and advisors, reaching nearly $1 billion in net
sales for the month."
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 $280 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$593
billion of assets under administration, more than C$353 billion of assets
under management and approximately 4,300 financial consultants, advisors,
private bankers and trust officers.
Jeff Keay, RBC GAM Communications, 416-955-0577 Leah Commisso, RBC GAM Media
Relations, 416 955-6498
To view this news release in HTML formatting, please use the following URL:
CO: RBC Global Asset Management
NI: FIN ERN
-0- Mar/06/2013 14:00 GMT
Press spacebar to pause and continue. Press esc to stop.