RBC Asset Management Inc. February sales results
TORONTO, March 4, 2008 — RBC Asset Management
Inc. today announced February net sales of $2.2 billion. Money
market funds had net sales of $1.4 billion and long term funds
had net sales of $785 million. Assets under management increased
by $2.6 billion or three per cent in February.
RBC Asset Management net sales results for the 12 months
ended February 29 were $10.5 billion, including $4.2 billion
in long term net sales and $6.3 billion in money market net
sales. Assets under management have increased by $9.6 billion
or 13 per cent over the same period. Net sales of packaged
solutions totalled $502 million led by RBC Select Portfolios
with $415 million and RBC Managed Portfolios with $63 million.
"Packaged solution sales remained strong through February,
and shows that our customers, and the advisors we work with,
understand that the best way to be a successful investor is
to make smart, well-diversified investment choices,"
said Brenda Vince, President, RBC Asset Management. "What
is even more encouraging is that despite market uncertainty
and volatility, more people made RSP contributions at RBC
this year than in 2007."
The RBC Balanced Fund with $114 million and the RBC Dividend
Fund with $101 million were the top individual long term funds
for net sales on the month.
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 $90 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, and provides
asset management and trust products and services directly
and through RBC partners and third-party distributors. RBC
Wealth Management has nearly $500 billion of assets under
administration, more than $160 billion of assets under management,
and more than 3,600 financial consultants, advisors, private
bankers and trust officers.
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Jackie Braden, RBC, Media Relations, (416) 974-2124