TORONTO, September 16, 2022 /CNW/ – RBC Global Asset Management Inc. (“RBC GAM Inc.”) today announced net mutual fund redemptions in August of $924 million. Long-term funds recorded net redemptions of $643 million and money market funds had net redemptions of $281 million. Mutual fund assets under management decreased by 2.2%.
“Our teams remain committed to maintaining customer focus and providing investment solutions to support them as they navigate this challenging market,” said Doug CoulterPresident of RBC Global Asset Management Inc.
Information on mutual fund sales results is based on preliminary data from the Investment Funds Institute of Canada (IFIC) and only include mutual funds eligible for the Canadian prospectus.
Please consult your advisor and read the prospectus or Fund Facts document before investing. Commissions, trailing commissions, management fees and expenses all may be 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 GAM Inc. and distributed through authorized dealers in Canada. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada. Canada.
Royal Bank of Canada is a global financial institution with a purpose-driven, principle-driven approach to delivering industry-leading performance. Our success comes from the more than 92,000 employees who use their imaginations and ideas to bring our vision, values and strategy to life so that we can help our customers thrive and communities thrive. As from Canada largest bank and one of the largest in the world, based on market capitalization, we have a diverse business model focused on innovation and delivering exceptional experiences to our 17 million customers across Canada, the United States and 27 other countries. Learn more about rbc.com.
We are proud to support a wide range of community initiatives through donations, community investments and employee volunteer activities. See how to rbc.com/community-social-impact.
About RBC Global Asset Management
RBC Global Asset Management (RBC GMA) is the asset management division of Royal Bank of Canada (RBC) and includes fund 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 segregated accounts, pooled funds, mutual funds, hedge funds, exchange traded funds and specialized investment strategies. The RBC GAM group of companies manages approximately $540 billion of assets and has approximately 1,500 employees in Canada, United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
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