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RBC Global Asset Management records net sales of CAD394m


RBC Global Asset Management has reported October net sales of CAD394m.

Long-term funds had net sales of CAD776m and money market funds had net redemptions of CAD382m.

Assets under management increased by CAD1.7b or 1.7 per cent.

"We held our industry-leading position in net sales once again, as October proved to be an exceptional month for our long-term mutual funds," says Doug Coulter, president of RBC Global Asset Management. "Given the low interest rate environment and the record level of investment dollars in cash and cash equivalent products, advisers and investors continued to favour our income-oriented investment solutions. This is a positive indicator for the RBC Monthly Income Bond Fund, which was launched in October and offers investors a diversified portfolio of bond mutual funds from our two award-winning fund families: PH&N Funds and RBC Funds."

The RBC Funds and PH&N Funds for October included RBC Select Portfolios, PH&N High Yield Bond Fund, RBC Managed Payout Solutions, PH&N Monthly Income Fund, and PH&N Short Term Bond & Mortgage Fund.

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