TORONTO, December 6, 2016 –RBC Global Asset Management Inc. today announced November mutual fund net sales of $533 million. Long-term funds had net sales of $556 million and money market funds had net redemptions of $23 million. Assets under management increased by 0.4 percent.
"As in recent months, RBC Select Portfolios were among our top selling solutions," said Doug Coulter, president of RBC Global Asset Management Inc. "We launched the RBC Select Portfolios 30 years ago this month, and we are proud of the legacy these solutions have built in helping Canadian investors to achieve their saving and retirement goals. We continue to work hard to earn the trust and support of investors as we look to the next 30 years."
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 Global Asset Management Inc. and distributed through authorized dealers.
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 more than $ 385 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.