RBC Asset Management Inc. January sales results
TORONTO, February 4, 2008 — RBC Asset Management
Inc. today announced January net sales of $1.7 billion. Money
market funds had net sales of $1.9 billion and long term funds
had net redemptions of $199 million. Assets under management
decreased by $1.0 billion or one per cent in January.
RBC Asset Management net sales results for the 12 months
ended January 31 were $9.8 billion, including $4.7 billion
in long term net sales and $5.1 billion in money market net
sales. Assets under management have increased by $8.4 billion
or 11 per cent over the same period.
Packaged solutions, led by RBC Select Portfolios, totalled
$183 million in net sales for the month, showing strong resilience
in the face of more volatile equity markets.
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 $87 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.
At the Canadian Investment Awards on November 29, 2007, the
RBC Global Resources Fund was recognized as the top Natural
Resource equity fund in Canada for 2007.
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 Communications,
(416) 974-6970
Jackie Braden,
RBC, Media Relations,
(416) 974-2124
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