RBC Asset Management Inc. September sales results
TORONTO, October 2, 2007 — RBC Asset Management
Inc. today announced September net long term fund sales of
$284 million. Money market funds had net sales of $46 million
for a total of $330 million in overall net sales for the month.
RBC Asset Management net sales results for the 12 months ended
September 30, 2007 were
$7.1 billion, including $6.2 billion in long-term net sales
and $0.9 billion in money market net sales. Assets under management
have increased by $13.2 billion or 20 per cent over the same
period.
"Our September results reflect a solid start to the
fall investment season," said Brenda Vince, president,
RBC Asset Management. "Income oriented solutions were
strong sellers. The RBC Tax Managed Return Fund, a popular
choice for income investors, was our top selling fund with
over $29 million in net sales. Our two RBC Cash Flow Portfolio
Funds totalled over $26 million in net sales for the month."
Net sales of the RBC Select Portfolios totalled $131 million
in September and now exceed $10.1 billion in assets under
management.
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 $84 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.
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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