TORONTO, Nov. 4, 2016 /CNW/ - RBC Global Asset Management Inc. today announced October mutual fund net sales of $674 million. Long-term funds had net sales of $697 million and money market funds had net redemptions of $22 million. Assets under management increased by 0.1 per cent. "In today's market, investors and advisors favour products that offer diversification," said Doug Coulter, president of RBC Global Asset Management Inc. "One of the top sellers this month was the RBC Global Bond Fund. This fund takes advantage of interest rate and currency fluctuations in the world of fixed income markets and strives to achieve above average long-term returns while controlling risk." 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. Mutual funds 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 Global Asset Management Inc. and distributed through authorized dealers. About RBC Global Asset ManagementRBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes 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 more than $ 385 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.