RBC Asset Management Inc. launches RBC Premium $U.S. Money
Market Fund
Better pricing for larger U.S. dollar balances provides
clients with a timely choice
TORONTO, November 1, 2007 — RBC Asset Management
Inc. ("RBC AM") today announced the launch of the
RBC Premium $U.S. Money Market Fund, adding to its existing
line-up of money market funds. The fund is designed for investors
with larger U.S. dollar balances who are looking for liquidity
at a lower price than traditional U.S. dollar money market
funds and better returns than what is currently available
on U.S. dollar savings accounts.
"With the Canadian dollar at a near all-time high, the
RBC Premium $U.S. Money Market Fund is both a timely and better-priced
solution for larger U.S. dollar balances," said Brenda
Vince, president of RBC AM. "Investors who need easy
access to U.S. dollars for vacations, retirement or major
purchases, also want the peace of mind of knowing that their
investment is well-managed. The RBC AM team currently oversees
more than $10 billion in money market assets and provides
investors with experience and a solid track record."
The RBC Premium $U.S. Money Market Fund will be managed for
both return and liquidity, in the same way as the existing
RBC $U.S. Money Market Fund, but with a lower management fee
of 0.35 per cent (versus 0.90 per cent) and a higher minimum
investment amount of US$100,000 (versus US$500). The fund
will distribute income monthly, be available to advisor-channel
clients in both no load and fee-based account versions effective
November 1, 2007, and will be launched in the RBC retail network
in January 2008.
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 contacts:
Rina Cortese, RBC Wealth Management, (416) 974-6970
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