RBC Global Asset Management saw mutual fund net sales of USD524 million in July, with sales of long-term funds registering USD549 million. Money market funds meanwhile had net redemptions of USD26 million.
Mutual fund assets under management increased by 1 per cent.
“Investors and advisors continue to favour balanced solutions, which offer stability and diversification,” says Doug Coulter, president of RBC Global Asset Management Inc. “This trend is demonstrated by strong sales of our RBC Select Portfolios, which in July surpassed USD85 billion in assets.”
Mutual fund sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC) and only includes Canadian prospectus qualified mutual funds.