TORONTO, March 5, 2012 —RBC Global Asset Management Inc. (RBC GAM) announced February net sales of $1.3 billion. Long-term funds had net sales of $1.5 billion and money market funds had net redemptions of $222 million. Assets under management increased by 2.0 per cent.
"Bringing RRSP season to a close, February proved to be a tremendous month for RBC Global Asset Management, as we exceeded all other previous February long-term fund sales results," said Doug Coulter, president of RBC Global Asset Management Inc. "With steady inflows across our diverse line-up of funds, we continued to capture a significant portion of industry long-term mutual fund sales. Among our top performing funds, RBC Canadian Equity Income Fund proved to be a favourite choice among investors and advisors. The fund recently won the Lipper award for the Best Fund in the Canadian Dividend & Equity Income category for its outstanding 1-, 3- and 5-year track record."
The top selling RBC Funds and PH&N Funds for February included: RBC Select Portfolios, RBC Canadian Equity Income Fund, RBC Canadian Short-Term Income Fund, RBC Managed Payout Solutions, and RBC Bond Fund.
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).
The Lipper Fund Awards were awarded based on the best risk-adjusted performance over the three-year periods ended December 31 for the years of 2006, 2007, 2008 and 2009 and for the three-year periods ended October 31 for the years 2010 and 2011.
Returns for RBC Canadian Equity Income Fund: 1 year, 11.3 %; 3 year, 30.7 %; 5 year, 14.8%; since inception (August 2006), 11.1 %, as of January 31, 2012.
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) which includes institutional money managers Phillips, Hager & North Investment Management (PH&N), RBC Global Asset Management (U.S.) and BlueBay Asset Management. RBC GAM is a provider of global investment management services and solutions to individual, high net worth and institutional investors through mutual funds, pooled funds, hedge funds, segregated accounts and specialty investment strategies. RBC GAM group of companies manage more than $250 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 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 over $534 billion of assets under administration, over $313 billion of assets under management and more than 4,300 financial consultants, advisors, private bankers and trust officers.