TORONTO, Aug. 7, 2018 /CNW/ - RBC Global Asset Management
Inc. (RBC GAM Inc.) today announced July mutual fund net sales of
$524 million. Long-term funds had net
sales of $549 million and money
market funds had net redemptions of $26
million. Mutual fund assets under management increased by 1
percent.
"Investors and advisors continue to favour balanced solutions,
which offer stability and diversification," said Doug Coulter, president of RBC Global Asset
Management Inc. "This trend is demonstrated by strong sales of our
RBC Select Portfolios, which in July surpassed $85 billion in assets."
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. 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 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 approximately $425 billion in assets and have approximately
1,400 employees located across Canada, the United
States, Europe and
Asia.
SOURCE Royal Bank of Canada