RBC Asset Management Inc. and Phillips, Hager & North
April sales results
TORONTO, May 4, 2009 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
April net sales of $818 million. Money market funds had net
sales of $665 million and long term funds had net sales of
$153 million. Assets under management increased by $3.3 billion,
or 3.5 per cent, in April.
"We are encouraged to see investors moving more confidently
into longer-term funds," said Doug Coulter, president
of RBC AM. "With RBC AM having just been named Canada's
Best Bond Fund Family at the 2009 Lipper Awards, we are also
pleased to see strong sales of fixed income products such
as the PH&N High Yield Bond Fund, PH&N Total Return
Bond Fund, and RBC Canadian Short-Term Income Fund."
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
$97 billion in IFIC-reported mutual fund assets under management
and an additional $49 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 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:
Chris Dotson,
RBC Global Asset Management Communications,
(604) 408-6009
Jackie Braden,
RBC Media Relations,
(416) 974-2124
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