TORONTO, March 5, 2012 /CNW/ - 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.
About RBC Global Asset Management and RBC Wealth 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, Phillips, Hager & North Investment Management and RBC Global Asset Management (U.S.). RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through exchange-traded funds, hedge funds, mutual funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage approximately $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 is one of the world's top 10 largest wealth managers. RBC Wealth Management directly serves affluent, high-net-worth and ultra high-net-worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$534 billion of assets under administration, more than C$313 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.
Yen To, RBC GAM Communications, 416 955-5916
Leah Commisso, RBC GAM Media Relations, 416 955-6498
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