RBC Asset Management terminates sub-advisor for RBC Private
U.S. Value Equity Pool
TORONTO, May 4, 2009 — RBC Asset Management
Inc. today announced that it has begun a search to identify
a replacement sub-advisor for its RBC Private U.S. Value Equity
Pool ("the pool"). Boyar Asset Management Inc. will
continue its role as sub-advisor on the pool until another
sub-advisor is identified. RBC Asset Management will continue
to provide investment management oversight for the pool to
ensure a smooth transition.
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 won the Lipper Awards
for "Best Bond Fund Family" in 2009 and "Best
Overall Fund Group" in 2007 and 2008; PH&N won for
"Best Bond Fund Family" in 2007 and 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.
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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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