RBC Asset Management Inc. and Phillips, Hager & North
December sales results
TORONTO, 5 January, 2009 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
December net sales of $680 million. Money market funds had
net sales of $1.1 billion and long term funds had net redemptions
of $433 million. Assets under management increased by $0.7
billion, or 0.8 per cent, in December.
"In the current environment, we have been pleased to
see continued positive net sales and growth in our assets
under management," said Brenda Vince, president of RBC
AM.
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 $92 billion
in IFIC-reported mutual fund assets under management and an
additional $48 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 approximately
C$500 billion of assets under administration, C$220 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 Global Asset Management Communications,
(604) 408-6009
Jackie Braden,
RBC Media Relations,
(416) 974-2124
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