It is taking advantage of the demand for low fee investments
The demand for low fee solutions has driven RBC Global Asset Management (RBC GAM) to post robust sales growth for the past quarter.
According to the group, its mutual fund assets under management (AUM) grew 1.1%, with net sales reaching $578 million in the said period. Meanwhile, its long-term funds hit a net sales amount of $522 million whilst its money market funds had a turnover of $55 million.
"As Canadian investors consider their long-term financial goals, they are increasingly focused on solutions that offer low fees and quality investment management," RBC GAM president Doug Coulter said.
Additionally, the group posted an ETF sales value of $483 million for the said quarter, with funds under management jumping to $3.6 billion.
RBC ETFs head Mark Neill said the group maintained its focus on growing and diversifying its fund line up, which now includes 35 ETFs.
"Thanks to strong interest from Canadian investors and advisors, RBC Global Asset Management has grown to become the fifth-largest ETF provider in Canada," he noted.
In late September, RBC launched seven new index-tracking ETFs which are sub-advised by State Street Global Advisors.
At the same time, the group filed an intent to launch four new actively managed fixed-income ETFs that will leverage the investment capabilities behind the PH&N and BlueBay fixed income funds. These are expected to be rolled out later this year.
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According to the group, its mutual fund assets under management (AUM) grew 1.1%, with net sales reaching $578 million in the said period. Meanwhile, its long-term funds hit a net sales amount of $522 million whilst its money market funds had a turnover of $55 million.
"As Canadian investors consider their long-term financial goals, they are increasingly focused on solutions that offer low fees and quality investment management," RBC GAM president Doug Coulter said.
Additionally, the group posted an ETF sales value of $483 million for the said quarter, with funds under management jumping to $3.6 billion.
RBC ETFs head Mark Neill said the group maintained its focus on growing and diversifying its fund line up, which now includes 35 ETFs.
"Thanks to strong interest from Canadian investors and advisors, RBC Global Asset Management has grown to become the fifth-largest ETF provider in Canada," he noted.
In late September, RBC launched seven new index-tracking ETFs which are sub-advised by State Street Global Advisors.
At the same time, the group filed an intent to launch four new actively managed fixed-income ETFs that will leverage the investment capabilities behind the PH&N and BlueBay fixed income funds. These are expected to be rolled out later this year.
For more of Wealth Professional's latest industry news, click here.
Related stories:
Could investor appetite for passives be plateauing?
Invesco announces ETF-business acquisition
