RBC Asset Management Inc. and Phillips, Hager & North
February sales results
TORONTO, March 2, 2010 RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
February net sales of $163 million. Long-term funds had net
sales of $906 million and money market funds had net redemptions
of $743 million. Assets under management increased by $1.8
billion, or 1.8 per cent, in February.
"February was a tremendous month for our long-term funds,"
said Doug Coulter, president of RBC AM. "We saw long-term
fund net sales exceed the strength previously seen in January,
indicating that our investment solutions continue to be a
confident choice for advisors and investors during this RRSP
season. As a result, RBC Select Portfolios garnered more than
$590 million in the month, while the PH&N Monthly Income
Fund followed up its strong debut with net sales of $30 million,
totaling more than $65 million in assets since its launch
The top selling RBC Funds® and PH&N Funds for the
month included RBC Select Portfolios, RBC Canadian Dividend
Fund, PH&N High Yield Bond Fund, PH&N Short Term Bond
& Mortgage Fund, PH&N Monthly Income 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 RBC Global Asset Management
(U.S.) Inc. Combined, RBC GAM component companies manage approximately
$200 billion in assets, including over $100 billion in IFIC-reported
mutual fund assets in Canada. PH&N won the Lipper Awards
for "Best Overall Fund Group" in 2010 and "Best
Bond Fund Family" in 2007, 2008 and 2010; RBC AM won
the Lipper Awards for "Best Bond Fund Family" in
2009 and "Best Overall Fund Group" in 2007 and 2008.
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:
RBC Global Asset Management Communications, (416) 955-5916
RBC Media Relations, (416) 974-2124