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News Releases

 

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 in January."

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. 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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03/03/2010 12:55:12