TORONTO /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced August mutual fund net sales of $686 million. Long-term funds had net sales of $784 million and money market funds had net redemptions of $97 million. Mutual fund assets under management increased by 1.4 per cent.

"Canadian investors continue to prioritize investment solutions that offer diversification," said Doug Coulter, President of RBC Global Asset Management Inc. "RBC Select Portfolios, a suite of actively managed and globally diversified fund-of-fund solutions, were our top-selling solutions in August, attracting steady inflows that reflect this trend."

Mutual fund sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC) and only include Canadian prospectus qualified mutual funds.

Please consult your advisor and read the prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Funds, BlueBay Funds and PH&N Funds are offered by RBC GAM Inc. and distributed through authorized dealers in Canada. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.