TORONTO, Sept. 4, 2020 /CNW/ - RBC Global Asset
Management Inc. ("RBC GAM Inc.") today announced August mutual fund
net sales of $686 million. Long-term
funds had net sales of $784 million
and money market funds had net redemptions of $97 million. Mutual fund assets under management
increased by 1.4 per cent.
"Canadian investors continue to prioritize investment solutions
that offer diversification," said Doug
Coulter, President of RBC Global Asset Management Inc. "RBC
Select Portfolios, a suite of actively managed and globally
diversified fund-of-fund solutions, were our top-selling solutions
in August, attracting steady inflows that reflect this trend."
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
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 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 $500 billion in
assets and have approximately 1,400 employees located across
Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management