RBC Asset Management Inc. and Phillips, Hager & North
September sales results
TORONTO, October 2, 2009 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
September net redemptions of $1.2 billion. Money market funds
had net redemptions of $1.8 billion and long-term funds had
net sales of $543 million. Assets under management increased
by $0.6 billion, or 0.6 per cent, in September.
"The trend of robust sales of long-term funds continued
in September," said Doug Coulter, president of RBC AM.
"In particular, we continue to see strong sales of our
Portfolio Solutions. At the same time, investors continue
to redeploy their money market fund assets. One option that
has proved attractive for investors is the RBC Investment
Savings Account, which attracted $850 million in September
and a total of $3.9 billion since July."
About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) comprises RBC Asset
Management Inc. (RBC AM), Phillips, Hager & North Investment
Management Ltd. (PH&N) and Voyageur Asset Management Inc.
Combined, RBC GAM's component companies manage approximately
$200 billion in assets in Canada and the United States, including
over $100 billion in IFIC-reported mutual fund assets in Canada.
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. Website: www.rbcgam.com.
RBC GAM 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 with a full
suite of investment, trust and other wealth management solutions.
The business also provides asset management products and services
directly and through RBC and third-party distributors to institutional
and individual clients through its RBC Global Asset Management
division, and has more than $490 billion of assets under administration,
more than $240 billion of assets under management and more
than 4,500 financial consultants, advisors, private bankers
and trust officers.
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For more information, please contact:
RBC Global Asset Management Communications,