TORONTO, Jan. 7, 2019 /CNW/ - RBC Global Asset
Management Inc. (RBC GAM Inc.) today announced December mutual fund
net redemptions of $699 million.
Long-term funds had net redemptions of $963
million and money market funds had net sales of $264 million. Mutual fund assets under management
decreased by 2.9 per cent.
"We continue to see a trend of Canadian investors looking for
diversified solutions to add stability to their portfolios," said
Doug Coulter, President of RBC
Global Asset Management Inc. "The RBC Fixed Income Pools, which RBC
Global Asset Management launched this past summer, were the top
selling solutions in December and during the month surpassed
$1 billion in assets."
RBC GAM Inc. also reported ETF net redemptions of $177.6 million for the fourth quarter of calendar
2018, bringing total sales for the calendar year to $181.6 million. ETF assets under management total
$4.6 billion.
Mutual fund 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 and exchange-traded funds (ETFs). Mutual funds and
ETFs 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 GAM Inc. and distributed through
authorized dealers. ETF units are bought and sold at market price
on a stock exchange and brokerage commissions will reduce returns.
RBC ETFs do not seek to return any predetermined amount at
maturity. Index returns do not represent RBC ETF returns. RBC ETFs
are managed by RBC GAM Inc., a member of the RBC GAM group of
companies and an indirect wholly owned subsidiary of Royal Bank of
Canada.
About RBC Global Asset 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
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 approximately $425 billion in assets and have approximately
1,400 employees located across Canada, the United
States, Europe and
Asia.
SOURCE RBC Global Asset Management Inc.