RBC Asset Management announces a change to RBC O’Shaughnessy
Funds and Private Pools
TORONTO, July 25, 2007 — RBC Asset Management
Inc. today announced it will transition the sub-advisory relationship
for the RBC O'Shaughnessy Funds and Private Pools to O'Shaughnessy
Asset Management, L.L.C. (OSAM). Bear Stearns Asset Management
and Jim O'Shaughnessy recently agreed that Mr. O'Shaughnessy
will form the new company, OSAM, in which Bear Stearns Asset
Management will be a minority stakeholder. Mr. O'Shaughnessy
will continue to be the portfolio manager for the RBC O'Shaughnessy
Funds and Private Pools, a role he has had since their inception.
"I'm delighted to continue my ten-year partnership with
RBC and look forward to continuing to work with RBC in my
new capacity as Chairman and CEO of OSAM," said Mr. O'Shaughnessy.
"Jim and his team have provided outstanding results
for our unitholders over the past ten years and we look forward
to continuing to build our business relationship with OSAM,"
said Brenda Vince, president, RBC Asset Management Inc.
OSAM will be appointed as the sub-advisor for the RBC O'Shaughnessy
Canadian Equity Fund, RBC O'Shaughnessy All-Canadian Equity
Fund, RBC O'Shaughnessy U.S. Value Fund, RBC O'Shaughnessy
U.S. Growth Fund, RBC O'Shaughnessy International Equity Fund,
RBC O'Shaughnessy Global Equity Fund, RBC O'Shaughnessy Canadian
Equity Pool, RBC O'Shaughnessy U.S. Value Equity Pool and
RBC O'Shaughnessy U.S. Growth Equity Pool on or about September
30, 2007.
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.
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.
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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