News Release

RBC Global Asset Management Awarded Multiple Distinctions at Morningstar Canadian Investment Awards

TORONTO, December 1, 2011 —RBC Global Asset Management Inc. (RBC GAM) was awarded multiple distinctions at the Morningstar Canadian Investment Awards (CIA), which was the 17th year the awards gala was held to recognize investment industry leaders who have delivered superior investment products, service, marketing and education to investors.

"This year, we are again honoured to be recognized across both of our fund families for our breadth and depth of talent in fixed income and equity investing," said Dan Chornous, chief investment officer, RBC GAM. "The recognitions draw attention to the exceptional contributions of our investment teams, who strive to and consistently deliver added value for our clients. Thank you to our teams for their continued dedication and to investors for their continued confidence in our approach."

RBC Funds and PH&N Funds that received industry recognition included:

To be considered for an award, investment funds and firms must meet stringent criteria. Panels of industry experts review performance, focusing on the three-year return history, the quantitative performance of a fund on an absolute basis, as well as various measures of risk and diversification benefits. The panels also weigh qualitative factors such as management quality, availability and fee structure. Results are returned to an audit team for final review. Winner, Silver and Bronze are identified in the fund categories.

The Morningstar CIA is the only national event of its kind in Canada that reflects the collective efforts of a broad range of industry experts, advisors and investors within the Canadian financial services industry. The awards recognize leadership in the investment industry and represent a wide range of investment products, including mutual funds, pooled funds and hedge funds.

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) is the asset management division of Royal Bank of Canada (RBC) which includes institutional money managers Phillips, Hager & North Investment Management (PH&N), RBC Global Asset Management (U.S.) and BlueBay Asset Management. RBC GAM is a provider of global investment management services and solutions to individual, high net worth and institutional investors through mutual funds, pooled funds, hedge funds, segregated accounts and specialty investment strategies. RBC GAM group of companies manage more than $250 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.
 
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 over $525 billion of assets under administration, over $310 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 GAM Communications, 416 955-5916
Leah Commisso, RBC GAM Media Relations, 416 955-6498