RBC Global Asset Management Inc. announces December sales results for RBC Funds, PH&N Funds and BlueBay Funds and fourth quarter sales for RBC ETFs Français
TORONTO, Jan. 7, 2019 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced December mutual fund net redemptions of $699 million. Long-term funds had net redemptions of $963 million and money market funds had net sales of $264 million. Mutual fund assets under management decreased by 2.9 per cent.
"We continue to see a trend of Canadian investors looking for diversified solutions to add stability to their portfolios," said Doug Coulter, President of RBC Global Asset Management Inc. "The RBC Fixed Income Pools, which RBC Global Asset Management launched this past summer, were the top selling solutions in December and during the month surpassed $1 billion in assets."
RBC GAM Inc. also reported ETF net redemptions of $177.6 million for the fourth quarter of calendar 2018, bringing total sales for the calendar year to $181.6 million. ETF assets under management total $4.6 billion.
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 and exchange-traded funds (ETFs). Mutual funds and ETFs 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. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC GAM Inc., a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.
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 approximately $425 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
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Leah Commisso, [email protected], RBC GAM Corporate Communications, 416-955-6498
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