RBC Financial Group
RBC Home | Search | Site Map | Contact Us | Legal Terms | Français  
Other RBC Sites:
Banking Investments Capital Markets
» Corporate Profile
» Corporate Governance
» History
» Investor Relations
Media Newsroom
 News Releases
 Editorial Edge
 RBC Executive Profiles
 RBC Facts
 RBC Purchasing Managers’ Index
 RBC Canadian Consumer Outlook Index
 RBC U.S. Consumer Outlook Index
 Special Reports
 Events Calendar
» RBC Social Media
» Economics
» Publications
» Community & Sustainability
» Careers
» Diversity
» Become a Supplier
» Become an Employee
» Make a Complaint

News Releases


RBC Asset Management Inc. and Phillips, Hager & North July sales results

TORONTO, August 5, 2008 — RBC Asset Management Inc. (RBC AM) announced July net sales of $917 million. Money market funds had net sales of $744 million and long term funds had net sales of $173 million. Assets under management decreased by $0.8 billion, or 0.9 per cent, in July.

Phillips, Hager & North (PH&N) announced July net redemptions of $239 million. Money market funds had net redemptions of $5 million and long term funds had net redemptions of $234 million. Assets under management decreased by $0.4 billion, or 2.1 per cent, in July.

RBC AM and PH&N announced combined July net sales of $678 million and assets under management total $108 billion at July 31, 2008.

Net sales of risk-managed portfolio solutions totalled $178 million in July. The top selling individual fund was the recently renamed RBC Managed Payout Solution - Enhanced Plus with $31 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 $108 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.

- 30 -

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


Take Action
  Contact a member of the Media Relations Team

In the news
  RBC PMITM signals solid output growth in February (14.03.03)
  RBC seeks emerging painters to enter 16th annual RBC Canadian Painting Competition (14.02.21)
  Royal Bank of Canada announces results of conversion privileges of Non-Cumulative 5-Year Rate Reset First Preferred Shares Series
AJ & AL (14.02.14)
  More »

Related Links
  Quarterly Information
  RBC at a Glance
  RBC Letter
  About RBC

  Special Reports
  RBC Canadian Manufacturing Purchasing Managers'Index
08/05/2008 15:40:21