The asset management firm reports preliminary data indicating remarkable net sales performance
A news release from RBC Global Asset Management has announced mutual fund net sales of $523 million for the month of September. Long-term funds reportedly had net sales of $644 million, while money market funds experienced net redemptions of $121 million.
The sales performance led to an overall increase in assets under management of 0.8%.
"As markets remain volatile, risk management remains top of mind for many Canadian investors," said RBC Global Asset Management President Doug Coulter. "Our suite of RBC QUBE Low Volatility investment solutions, which aim to provide long-term growth and use a custom risk model designed to measure and forecast risk, were among our top selling investment solutions for the month."
The information on sales results includes only Canadian prospectus qualified mutual funds, which include RBC Funds, PH&N Funds and BlueBay Funds. Furthermore, the sales information is based on preliminary data from the Investment Funds Institute of Canada (IFIC).
Last month, RBC Global Asset Management reported record net mutual fund sales of $787 million for August. The reported results were based on preliminary data that the IFIC had released for the month.
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