(February 19 – 11:00 ET) – Royal Mutual Funds Inc. is reporting that mutual fund net sales climbed to $228.7 million for the month ending January 31. The company boasts that this amount represents about 10% of the fund industry’s net new sales, excluding reinvested distributions.

Royal Mutual Funds sales rose sharply from the previous month with 24% of its net sales for January directed to foreign funds. Assets under management as of January 31, totalled $34 billion, up $598 million from the previous month and up 8% from a year ago.

“Strong sales of our foreign funds indicate that our clients are focusing on the growing importance of global investing and taking greater advantage of the increased foreign content limit for registered plans such as RRSPs,” says George Lewis, president and CEO, Royal Mutual Funds.

RMF is pushing the global angle, having just launched a new suite of global equity funds, featuring seven global sector funds targeting communications and media, consumer trends, financial services, health sciences, infrastructure, resources and technology.

“It’s important that investors focus more on global investment opportunities,” adds Mark Arthur, president and chief investment officer, Royal Bank Investment Management Inc. “A properly diversified portfolio by asset class, investment style, geographic region and industry sector can reduce risk, lower volatility and provide for more consistent, long-term returns.”
-IE Staff