RBC Asset Management Inc. and Phillips, Hager & North
June sales results
TORONTO, July 6, 2010 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
June net redemptions of $173 million. Long-term funds had
net sales of $392 million and money market funds had net redemptions
of $565 million. Assets under management decreased by $0.9
billion or 0.9 per cent.
"Industry flows in June recovered to seasonal levels
after the decline in May," said Doug Coulter, president
of RBC AM. "Our long-term mutual funds continued to see
steady inflows and we maintained our top position as the industry
leader for long-term net sales as a result of the strong support
of advisors and investors who have consistently chosen our
investment solutions."
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,
PH&N Total Return Bond Fund, PH&N Bond Fund and RBC
Canadian Dividend 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.
Website: www.rbcgam.com.
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
management.
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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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