TORONTO, Jan. 7, 2021 /CNW/ - RBC Global Asset Management
Inc. ("RBC GAM Inc.") today announced December mutual fund net
sales of $1.3 billion. Long-term
funds had net sales of $1.6 billion
and money market funds had net redemptions of $388 million. Mutual fund assets under management
increased by 1.7 percent.
"Throughout 2020, Canadian investors were attracted to
investment solutions offering broad diversification," said
Doug Coulter, President of RBC
Global Asset Management Inc. "Since their inception in 2019, RBC
Global Portfolios have attracted strong interest. This suite of
actively managed, globally diversified solutions leverage the
investment expertise of RBC Global Asset Management's global
investment teams. Last month, RBC Global Portfolios surpassed the
milestone of $2 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 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.
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 86,000+ employees who
leverage their imaginations and insights to bring our vision,
values and strategy to life so we can help our clients thrive and
communities prosper. As Canada's
biggest bank, and one of the largest in the world based on market
capitalization, we have a diversified business model with a focus
on innovation and providing exceptional experiences to our 17
million clients in Canada, the
U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-social-impact.
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 $518
billion in assets and have approximately 1,400 employees
located across Canada,
the United States, Europe and Asia.