RBC Asset Management Inc. and Phillips, Hager & North
January sales results
TORONTO, February 3, 2010 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
January net redemptions of $486 million. Long-term funds had
net sales of $793 million and money market funds had net redemptions
of $1.3 billion. Assets under management decreased by $2.2
billion, or 2.1 per cent, in January.
"In January, we saw the strongest net sales for our
long-term funds since prior to the economic downturn,"
said Doug Coulter, president of RBC AM. "Advisors and
investors continue to reallocate money market assets into
investment opportunities with long-term strategies that will
help in rebuilding their portfolios. As a result, the new
PH&N Monthly Income Fund that was launched at the beginning
of the month has already gained $35 million in assets."
The top selling RBC Funds® and PH&N Funds for the
month included RBC Select Portfolios, RBC Canadian Dividend
Fund, PH&N Short Term Bond & Mortgage Fund, PH&N
High Yield Bond Fund, PH&N Total Return Bond Fund and
RBC Canadian Short-Term Income Fund.
Please read the prospectus before investing. There may be
commissions, trailing commissions, management fees and expenses
associated with mutual fund investments. Mutual funds are
not guaranteed, their values change frequently and past performance
may not be repeated.
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
nearly $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, over $245 billion of assets under
management and more than 4,500 financial consultants, advisors,
private bankers and trust officers.
- 30 -
For more information, please contact:
RBC Global Asset Management Communications, 416-955-5916
RBC Media Relations, 416-974-2124