Feb. 5, 2013
/CNW/ - RBC Global Asset Management Inc. today announced January net sales of
. Long-term funds had net sales of
and money market funds had net redemptions of
. Assets under management increased by 2.2 per cent.
"It was a record first month for 2013, as we exceeded previous January long-term mutual fund sales results," said
, president of RBC Global Asset Management Inc. "As a result of RRSP contributions being top of mind and advisors and investors continuing to search for yield, our comprehensive selection of income-oriented products saw strong inflows. Notably, the PH&N Monthly Income Fund, which celebrated its three-year anniversary, has captured more than
in total assets."
Sales results information is based on preliminary data from the Investment Funds Institute of
About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management
(RBC GAM) is the asset management division of Royal Bank of
(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 more than
in assets and have approximately 1,000 employees located across
the United States
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
the United States
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
of assets under administration, more than
of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.