RBC Asset Management Inc. May sales results
TORONTO, June 4, 2007 — RBC Asset Management
Inc. today announced record May net long term fund sales of
$514 million. Money market net sales were $67 million for
a total of $581 million in overall net sales for the month.
RBC Asset Management net sales results for the 12 months ended
May 31, 2007 were $7.6 billion, including $5.7 billion in
long-term net sales and $1.9 billion in money market net sales.
Assets under management have increased by $16.2 billion or
26 per cent over the same period.
"Our record results in May reflect the strength of our
product line, our focus on value and performance and our distribution
relationships," said Brenda Vince, president, RBC Asset
Management. "We have built a client-focused business
that can deliver strong results year-round."
In keeping with its focus on continually improving value
for investors and expanding distribution relationships, RBC
Asset Management announced in May that over forty RBC Funds
will be available exclusively through RBC Direct Investing
in a new Series D. Series D represents the first mutual fund
fee structure in Canada from a major fund company that offers
a lower-priced option tailor-made for the self-directed investor.
Net sales of the RBC Select Portfolios totalled $227 million
in May and now exceed $9.6 billion in assets under management.
Top selling individual funds included the RBC O'Shaughnessy
International Equity Fund with $53 million in net sales and
the RBC O'Shaughnessy U.S. Value Fund with $33 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 $83 billion in assets under management.
RBC Asset Management's 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.
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:
Jackie Braden, Media Relations, (416) 974-2124
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