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News Releases

 

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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01/05/2009 16:30:27