Canada : RBC Global Asset Management Inc. Announces July Sales Results for RBC Funds and PH&N Funds [TendersInfo (India)]

RBC Global Asset Management Inc. today announced July net sales of $120 million. Long-term funds had net sales of $499 million and money market funds had net redemptions of $379 million. Assets under management increased by 0.4 per cent.

"Although the summer is a typically slower sales period, we experienced one of our best Julys on record in terms of long-term fund net sales. As such, we continued to capture a significant portion of industry sales," said Doug Coulter, president of RBC Global Asset Management Inc. "The ongoing trend of investors and advisors seeking yield remained a strong theme. As a result, the RBC Monthly Income Bond Fund saw a steady increase of flows over the course of the month, placing it among our top-selling funds."

Sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) which includes institutional money managers Phillips, Hager & North Investment Management (PH&N), RBC Global Asset Management (U.S.) and BlueBay Asset Management. RBC GAM is a provider of global investment management services and solutions to individual, high net worth and institutional investors through mutual funds, pooled funds, hedge funds, segregated accounts and specialty investment strategies. RBC GAM group of companies manage more than $250 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.