RBC Asset Management Inc. and Phillips, Hager & North
March sales results
TORONTO, April 2, 2009 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
March net sales of $974 million. Money market funds had net
sales of $980 million and long term funds had net redemptions
of $6 million. Assets under management increased by $3.9 billion,
or 4.4 per cent, in March.
"We continue to see strong demand by investors for conservative
products," said Doug Coulter, president of RBC AM. "RBC
Select Portfolios saw sales of approximately $100 million
in March, with our new Select Very Conservative portfolio
accounting for $28 million of that amount - a strong result
for this fund in its first month."
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
$94 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 nearly $500 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.
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For more information, please contact:
RBC Global Asset Management Communications,
RBC Media Relations,