TORONTO, Aug. 7, 2019 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced July mutual fund net sales of $1.1 billion. Long-term funds had net sales of $1.1 billion and money market funds had net redemptions of $40 million. Mutual fund assets under management increased by 0.8 per cent.

"Diversification continues to be an important factor for Canadians when choosing their investments," said Doug Coulter, President of RBC Global Asset Management Inc. "Professional active management can be an important consideration to fulfill this client need. RBC Select Portfolios, a suite of actively managed, fully diversified fund-of-fund portfolios, attracted inflows of over half a billion dollars in July, demonstrating the importance of this consideration."

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. 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.

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 $430 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management

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