RBC Asset Management Inc. and Phillips, Hager & North
November sales results
TORONTO, December 3, 2009 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
November net redemptions of $501 million. Money market funds
had net redemptions of $1.2 billion and long-term funds had
net sales of $653 million. Assets under management increased
by $1.6 billion, or 1.6 per cent, in November.
"Long-term fund sales continued to show strength in
November," said Doug Coulter, RBC AM President. "Most
notably we saw a diverse mix of inflows into our equity and
fixed income investments, such as our RBC Select Portfolios
and PH&N High Yield Bond Fund, as investors continued
to seek out yield as well as growth opportunities."
PH&N High Yield Bond Fund was ranked the top fund in
the High Yield Fixed Income Fund category at the 2009 Canadian
Investment Awards, one of two winners and six finalists among
RBC and PH&N Funds.
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, 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:
Yen To,
RBC Global Asset Management Communications,
416-955-5916
Matt Gierasimczuk,
RBC Media Relations,
416-974-2124
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