RBC Asset Management Inc. and Phillips, Hager & North
June sales results
TORONTO, July 3, 2008 — RBC Asset Management
Inc. (RBC AM) announced June net sales of $1.2 billion. Money
market funds had net sales of $1.0 billion and long term funds
had net sales of $259 million. Assets under management decreased
by $0.6 billion, or 0.7 per cent, in June.
Phillips, Hager & North (PH&N) announced June net
redemptions of $126 million. Money market funds had net redemptions
of $40 million and long term funds had net redemptions of
$85 million. Assets under management decreased by $0.8 billion,
or 4 per cent, in June.
RBC AM and PH&N announced combined June net sales of
$1.1 billion and assets under management total $109 billion
at June 30, 2008.
Net sales of risk-managed portfolio solutions totalled $236
million in June and now exceed $18 billion in assets under
management. The top selling individual fund was the recently
renamed RBC Managed Payout Solution - Enhanced Plus with $26
million in net sales.
About Global Asset Management and RBC Wealth Management
Global Asset Management comprises RBC Asset Management Inc.
(RBC AM), Phillips, Hager & North Investment Management
Ltd. (PH&N) in Canada and Voyageur Asset Management Inc.
in the U.S. Combined, RBC AM and PH&N have $109 billion
in IFIC-reported mutual fund assets under management and an
additional $55 billion in other institutional and private
client assets under management. RBC AM and PH&N received
the Lipper Awards for "Best Overall Fund Group"
and "Best Bond Family" in Canada respectively for
the second consecutive year in 2008.
Global 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.
RBC Wealth Management also provides asset management and trust
products and services directly and through RBC and third-party
distributors to all client segments, and has C$500 billion
of assets under administration, more than C$240 billion of
assets under management and more than 4,000 financial consultants,
advisors, private bankers and trust officers.
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For more information, please contact:
Chris Dotson,
RBC Asset Management and PH&N Communications,
(604) 408-6009
Rina Cortese,
RBC Wealth Management Communications,
(416) 974-6970
Jackie Braden,
RBC, Media Relations,
(416) 974-2124
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