CNW -- RBC Global Asset Management Inc. (RBC GAM) announced July net sales of $164 million. Long-term funds had net sales of $332 million and money market funds had net redemptions of $168 million. Assets under management decreased by 1.0 per cent.

"Although July showed the same slowing industry sales trend of June, we continued to see inflows into our diverse line-up of long-term funds. As a result, we maintained our market position as an industry leader in long-term mutual fund net sales," said Doug Coulter, president of RBC Global Asset Management Inc. "The ongoing trend of investors and advisors favouring balanced and income-oriented investment solutions remained a strong theme. This proved positive for the BlueBay Global Monthly Income Bond Fund, which attracted $24 million in assets since its launch on July 11."

The top selling RBC Funds and PH&N Funds for July included: RBC Select Portfolios, PH&N Bond Fund, RBC Managed Payout Solutions, PH&N Monthly Income Fund and BlueBay Global Monthly Income Bond Fund.