RBC Asset Management Inc. and Phillips, Hager & North
August sales results
TORONTO, September 3, 2010 — RBC Asset Management
Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced
August net redemptions of $128 million. Long-term funds had
net sales of $358 million and money market funds had net redemptions
of $486 million. Assets under management increased by $570
million or 0.6 per cent.
"We continued to lead the industry in long-term mutual
fund net sales in August," said Doug Coulter, president
of RBC AM. "Our diverse offering of income investment
solutions remained a popular choice for advisors and investors.
This strong income theme has resulted in a consistent flow
into both fund families throughout the summer months."
The top selling RBC Funds® and PH&N Funds for the
month included RBC Select Portfolios, PH&N High Yield
Bond Fund, RBC Managed Payout Solutions, PH&N Monthly
Income Fund and PH&N 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 integrated and diversified
international wealth management expertise and solutions, asset
management and trust services to high net worth individuals
and to corporate and institutional clients. Services provided
by RBC Wealth Management consultants, advisors, private bankers
and trust officers include trust and estate planning, tax
advice, discretionary investment management and investment
advisory services, structured solutions, banking, lending
and global custody. RBC Wealth Management has more than $490
billion of assets under administration, nearly $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
Elyse Lalonde, RBC Media Relations, 416 974-8810