RBC Asset Management Inc. and Phillips, Hager & North
December 2009 sales results
TORONTO, January 5, 2010— RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
December 2009 net redemptions of $719 million. Money market
funds had net redemptions of $1.2 billion and long-term funds
had net sales of $444 million. Assets under management increased
by $0.4 billion, or 0.4 per cent, in December.
"We saw strong sales results for our long-term mutual
funds in December," said Doug Coulter, president of RBC
AM. "Investors appear to be moving off the sidelines
and taking a 'back-to-basics' approach, as they redeploy their
money into balanced and risk-adjusted investments like RBC
Portfolio Solutions, which has been a consistently popular
product in the last few months."
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 RBC Global Asset Management
(U.S.) Inc. Combined, RBC GAM's component companies manage
approximately CAD$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 $500 billion of
assets under administration, almost $250 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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