RBC Asset Management Inc. and Phillips, Hager & North
February sales results
TORONTO, March 3, 2009 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
February net sales of $1.4 billion. Money market funds had
net sales of $1.3 billion and long term funds had net sales
of $84 million. Assets under management decreased by $0.8 billion, or 0.9 per cent, in February.
"While the economic environment continues to challenge
investor psychology, we are encouraged to see strong overall
fund sales, including net sales of long term funds,"
said Doug Coulter, president of RBC AM. "In particular,
investors continue to recognize the value of RBC Portfolio
Solutions as an attractive long-term investment option."
About RBC Asset Management, Phillips, Hager & North
and RBC Wealth Management
Combined, RBC Asset Management Inc. (RBC AM) and Phillips,
Hager & North Investment Management Ltd. (PH&N) have
$90 billion in IFIC-reported mutual fund assets under management
and an additional $50 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.
RBC AM and PH&N are 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 more than $450 billion of
assets under administration, more than C$220 billion of assets
under management and more than 4,000 financial consultants,
advisors, private bankers and trust officers.
Please read the prospectus before investing. There may be
commissions, trailing commissions, management fees and expenses
associated with mutual fund investments. Mutual funds are
not guaranteed, their values change frequently and past performance
may not be repeated.
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For more information, please contact:
RBC Global Asset Management Communications,
RBC Media Relations, (416) 974-2124