RBC Asset Management Inc. November sales results
TORONTO, December 4, 2007 — RBC Asset Management
Inc. today announced November net long term fund sales of
$276 million. Money market funds had net sales of $1.037 billion
for a total of $1.313 billion in overall net sales for the
month. RBC Asset Management net sales results for the 12 months
ended November 30, 2007 were $8.1 billion, including $6.0
billion in long-term net sales and $2.1 billion in money market
net sales. Assets under management have increased by $10.6
billion or 15 per cent over the same period.
"We are gratified by the confidence investors and advisors
have placed in our money market funds," said Brenda Vince,
President, RBC Asset Management. The new RBC Premium U.S.
Dollar Money Market Fund, launched on November 1, 2007, had
net sales of $194 million in its first month.
Packaged programs, led by RBC Select Portfolios and RBC Managed
Portfolios, totalled $274 million in net sales of the month.
"The value of portfolio solutions to investors continues
to be validated even through this period of increased market
volatility," added Vince.
Other top selling funds were the RBC Cash Flow Portfolios
with $44 million in net sales and the RBC Canadian Dividend
Fund with $37 million in net sales.
About RBC Asset Management
RBC Asset Management Inc. is an indirect, wholly owned subsidiary
of Royal Bank of Canada. RBC Asset Management Inc. provides
a broad range of investment services to investors through
mutual funds, pooled funds and separately managed portfolios.
With offices in major financial centres around the world,
RBC Asset Management Inc. is one of Canada's largest money
managers and has over $87 billion in assets under management.
The RBC Asset Management mutual fund family
was awarded the "Best Overall Fund Group" in Canada
for 2007 by Lipper Inc. The prestigious award is part of a
global program of events held by Lipper in 21 countries to
highlight funds and fund families that excel in delivering
consistently strong risk-adjusted performance relative to
their peers. Visit our website at www.rbcam.com.
At the Canadian Investment Awards on November 29, 2007, the
RBC Global Resources Fund was recognized as the top Natural
Resource equity fund in Canada for 2007.
RBC Asset Management is part of RBC Wealth Management which
directly serves affluent and high net worth clients in Canada,
the United States, Latin America, Europe and Asia, provides
asset management and trust services through RBC partners and
third-party distributors and has over $500 billion of assets
under administration, 3,500 financial advisors and $150 billion
of assets under management.
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Media contacts:
Rina Cortese, RBC Wealth Management, (416) 974-6970
Jackie Braden, RBC Media Relations, (416) 974-2124
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