RBC Asset Management makes the cost of investing in its
portfolio products more predictable
TORONTO, October 4, 2007 — RBC Asset Management
Inc. (RBC AM) today announced that it will change the way
it calculates the Management Expense Ratios (MERs) for the
RBC Select Portfolios, the RBC Select Choices Portfolios,
the RBC Cash Flow Portfolios and the RBC Target Education
Funds (collectively the "portfolios"), making
the costs of investing more predictable for investors.
Beginning January 1, 2008, RBC AM will fix the MER for each
of the portfolios. By fixing the MER for each portfolio, changes
in the mix of underlying funds held by the portfolio will
no longer impact the MER. The MER for each series of units
of the portfolios will be more predictable going forward.
The fixed MER will include all fees and expenses (including
the fixed administration fee) paid by the portfolio.
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.
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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For further information, please contact:
Rina Cortese, RBC Wealth Management, (416) 974-6970
Jackie Braden, RBC Media Relations, (416) 974-2124
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