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News Releases

 

RBC Asset Management receives Lipper Award for best large fund family

TORONTO, March 29, 2007 — The RBC Asset Management mutual fund family has been awarded the "Best Overall Fund Group" in Canada 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. The award was presented at last night's Lipper Fund Awards 2007 ceremony, the first ever held in Canada.

"We hope that in receiving this award, even more investors and their advisors become aware of our ongoing commitment to meeting their needs," said Brenda Vince, president, RBC Asset Management Inc. "Our focus is on delivering smart portfolio solutions, offering competitive pricing, developing innovative cash flow products and sharing our expertise and experience in global investing. We want RBC Funds to always be considered by investors looking for performance, value, choice and transparency in their investment products."

"We're very proud to be honoured by a leading global authority in the mutual fund industry," added George Lewis, group head, RBC Wealth Management and CEO of RBC Asset Management. "This achievement celebrates excellence in investment management and is an important external validation of the value we deliver to investors and of our leadership position in the industry. Our success is a result of our best-in-class investment process and execution under the leadership of our Chief Investment Officer Dan Chornous, as well as strong operations and service teams, fund governance, compliance and risk management practices."

RBC Funds, Canada's largest single fund family, was presented the Best Overall Fund Group Award for having the best risk-adjusted performance among large fund families over a three-year time period ending December 31, 2006. Fund families with at least five equity, five bond and three mixed-asset funds were eligible for the large group award. The 12 fund groups that make up the large group category represent a universe of 1,345 mutual funds.

RBC Asset Management has led the industry in long-term net sales for 13 consecutive quarters and 95 per cent of RBC Fund Management Expense Ratios (MERs) are below the industry average.

Lipper Inc., a Reuters company, is a global leader in supplying mutual fund information, analytical tools and commentary. The award-winning funds are among the 130,000 funds Lipper tracks globally.

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 $78 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.

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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For further information, please contact:
Katherine Gay, RBC Wealth Management, (416) 974-6286 or katherine.gay@rbc.com
Kathy Bevan, RBC, (416) 974-8810 or kathy.bevan@rbc.com

 

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03/29/2007 08:11:10