by Alexandra Capik
RBC Global Asset Management Inc. (RBC GAM), the asset management division of the Royal Bank of Canada, announced a 50.21% increase in net sales, from $932 million in January to $1.4 billion in February 2014. The management’s long-term funds had net sales of $1.5 billion compared to $1.1 billion the previous month. Market funds had net redemptions of $117 million, down from $183 million in January. Assets under management increased by 3.1% compared to 1.3% in January.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
"Our sales results in February demonstrate our continued commitment to meeting the needs of our clients," said Doug Coulter, president of RBC GAM, in a statement. "RBC Select Portfolios, Canada’s largest suite of portfolio solutions, saw strong inflow this month as investors and advisors continue to favour balanced products."
In February, RBC Global Asset Management expanded its equities business in Hong Kong. The management appointed Tomonori Kaneko and David Soh as equity analysts. Clement Cheng was appointed equities trader at RBC GAM (Asia) Limited.
Kaneko previously worked for Marshall Wace, serving as a senior analyst and junior portfolio manager for Japan equity strategies for retail and institutional clients.
Soh specialized in quantitative investment strategies at Credit Suisse.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataPrior to joining RBC GAM, Cheng was responsible for covering equities and derivatives in the Asia region at Harvest Fund Management.
The addition of Tomonori, David, and Clement came after the addition of 10 global equity specialists to RBC GAM’s London office.
