RBC Asset Management Inc. November sales results
TORONTO, December 4, 2006 — RBC Asset Management
Inc. today announced a record $506 million in net sales of
long-term funds for the month of November. Money market net
sales were $236 million for a total of $742 million in overall
net sales for the month. RBC Asset Management net sales results
for the 12 months ended November 30, 2006 were $6.6 billion,
including $5.5 billion in long-term net sales and $1.1 billion
in money market net sales. Assets under management reached
a record $70.7 billion, an increase of $2.2 billion, or 3.2
per cent for the month.
"Sales in both our branch network and brokerage and
external advisory channels continued to be strong," said
Brenda Vince, President, RBC Asset Management. "Strong
sales combined with the rebound in markets have pushed our
assets under management to a record level, up 19.7 per cent
since the beginning of the year."
Net sales of the RBC Select Portfolios totalled $175 million
in November and now exceed $7 billion in assets under management.
Top selling individual funds included the RBC Canadian Dividend
Fund with $62 million in net sales and the RBC O'Shaughnessy
U.S. Value Fund with $38 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 over $74 billion in assets under management and offices
in major financial centres around the world, RBC Asset Management
Inc. is one of Canada's largest money managers. Visit our
website at www.rbcam.com.
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For further information, please contact:
Kathy Bevan, Media Relations, (416) 974-8810
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