TORONTO, November 3, 2010 — RBC Global Asset Management Inc. (RBC GAM) announced October net sales of $394 million. Long-term funds had net sales of $776 million and money market funds had net redemptions of $382 million. Assets under management increased by $1.7 billion or 1.7 per cent.
“We held our industry-leading position in net sales once again, as October proved to be an exceptional month for our long-term mutual funds,” said Doug Coulter, president of RBC Global Asset Management Inc. “Given the low interest rate environment and the record level of investment dollars in cash and cash equivalent products, advisors and investors continued to favour our income-oriented investment solutions. This is a positive indicator for the RBC Monthly Income Bond Fund, which was launched in October and offers investors a diversified portfolio of bond mutual funds from our two award-winning fund families: PH&N Funds and RBC Funds.”
The top selling RBC Funds® and PH&N Funds for October included RBC Select Portfolios, PH&N High Yield Bond Fund, RBC Managed Payout Solutions, PH&N Monthly Income Fund, and PH&N Short Term Bond & Mortgage Fund.
Please read the prospectus 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.
The RBC Global Asset Management (RBC GAM) brand comprises investment services and solutions offered by RBC Global Asset Management Inc., RBC Global Asset Management (U.S.) Inc., RBC Asset Management U.K. Ltd. and RBC Investments Management (Asia) Ltd. The group of companies form the asset management division of Royal Bank of Canada (RBC), a global institution with the reputation of stability and strength. RBC GAM group of companies manage
approximately C$200 billion (US$188 billion, £118 billion or €136 billion) in assets as of September 30, 2010. RBC Global Asset Management Inc. is the manager of RBC Funds and PH&N Funds. PH&N Funds won the Lipper Awards for “Best Overall Fund Group” in 2010 and “Best Bond Fund Family” in 2007, 2008 and 2010; RBC Funds won the Lipper Awards for “Best Bond Fund Family” in 2009 and “Best Overall Fund Group” in 2007 and 2008. Lipper Fund Awards were awarded based on the best risk-adjusted performance over the three-year periods ended December 31 of the previous year. Website: www.rbcgam.com.
RBC Global Asset Management is part of RBC Wealth Management which directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia. RBC Wealth Management provides integrated and diversified international wealth management expertise and solutions, asset management and trust services to high net worth individuals and to corporate and institutional clients. Services provided by RBC Wealth Management consultants, advisors, private bankers and trust officers include trust and estate planning, tax advice, discretionary investment management and investment advisory services, structured solutions, banking, lending and global custody. RBC Wealth Management has more than $490 billion of assets under administration, nearly $240 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.