TORONTO, Aug. 7, 2020 /CNW/ - RBC Global Asset Management
Inc. ("RBC GAM Inc.") today announced July mutual fund net sales of
$80 million. Long-term funds had net
redemptions of $17 million and money
market funds had net sales of $97
million. Mutual fund assets under management increased by
2.9 percent.
"Investment solutions that provide stability remain top of mind
for Canadian investors," said Doug
Coulter, president of RBC Global Asset Management Inc.
"Demonstrating this trend, our suite of fixed income solutions
continued to receive strong interest. Notably, the best-selling
solution in July was PH&N Short Term Bond & Mortgage Fund,
which offers a well-diversified portfolio of Canadian short-term
fixed income securities and first mortgages on properties located
in Canada."
"Thanks to the trust of our clients, RBC Global Asset Management
recently surpassed the milestone of $500
billion in assets under management across all of its global
businesses. We are gratified by the ongoing trust that
institutional and individual investors continue to place in RBC GAM
and our diverse line-up of investment solutions."
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 in Canada. 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 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 $500 billion in assets
and have approximately 1,400 employees located across Canada, the United
States, Europe and
Asia.
SOURCE RBC