TORONTO, July 7, 2015 /CNW/ - RBC Global Asset Management Inc. today announced June mutual fund net sales of $639 million. Long-term funds had net sales of $763 million and money market funds had net redemptions of $124 million. Assets under management decreased by 1.1 per cent.
"Canadians continue to express an interest in their long-term saving and investing needs, despite the warmer temperatures that can put those priorities on the back burner," said Doug Coulter, President of RBC Global Asset Management Inc. "Investors and advisors continue to seek products that offer growth and income potential, as well as comprehensive solutions that help manage volatility with diversification, such as the RBC Portfolio Solutions."
Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).
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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 and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $380 billion and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC Wealth Management directly serves affluent, high-net-worth and ultra-high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. 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 GAM business.
RBC Wealth Management has more than C$747 billion of assets under administration, more than C$481 billion of assets under management and approximately 4,100 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.