RBC Asset Management Inc. and Phillips, Hager & North
May sales results
TORONTO, June 2, 2010 RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
May net redemptions of $699 million. Long-term funds had net
sales of $158 million and money market funds had net redemptions
of $857 million. Assets under management decreased by $2.9
billion or 2.9 per cent.
"Although industry sales slowed in May, we continued
to see inflows into our long-term mutual funds and remained
among the leaders in long-term net sales," said Doug
Coulter, president of RBC AM. "Advisors and investors
appeared to favour balanced and income-oriented investments
as part of their recovery strategy. Of note, the PH&N
Monthly Income Fund has been a consistently popular choice,
attracting more than $200 million in assets since the beginning
of this year."
The top selling RBC Funds® and PH&N Funds for the
month included RBC Select Portfolios, RBC Managed Payout Solutions,
PH&N Monthly Income Fund, PH&N High Yield Bond Fund,
RBC Canadian Dividend Fund, RBC North American Value Fund,
and PH&N Inflation-Linked Bond 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. RBC GAM group of 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 Global Asset Management 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.
RBC Wealth Management provides asset management and trust
services through RBC partners and third-party distributors
and has just under $500 billion of assets under administration,
over 4,500 financial advisors and $240 billion of assets under
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For more information, please contact:
RBC Global Asset Management Communications, 416 955-5916
RBC Media Relations, 416 974-2124