News Release

RBC Global Asset Management and Phillips, Hager & North Investment Management Receive Top Lipper Awards for Sixth Consecutive Year

TORONTO, February 10, 2012— RBC Global Asset Management Inc. was presented with multiple top group and individual fund awards at the 2012 Lipper Awards, which recognize funds and fund management firms that have delivered stronger and more consistent performance than their peers.

Among the eleven awards presented to portfolio managers last night, Phillips, Hager & North Investment Management (PH&N) captured two of the top Lipper Group Awards: Best Bond Fund Family and Best Overall Fund Group.

"It is a tremendous honour to be recognized by the Lipper Awards for delivering excellence in investment management and to receive such acknowledgements for the sixth consecutive year," said Dan Chornous, Chief Investment Officer of RBC GAM. "These awards reflect our rigorous process and the dedication of our investment teams. I would like to congratulate and thank them for their exceptional effort and continued commitment to our clients."

PH&N won the Best Overall Fund Group award in 2010 and 2011, and Best Bond Fund Family award in 2007, 2008, 2010 and 2011. RBC GAM won the Best Bond Fund Family award in 2009 and was awarded the Best Overall Fund Group in 2007 and 2008.

The 2012 Lipper Fund Awards are part of a global program held in 21 countries to highlight funds and fund families that excel in delivering consistently strong risk-adjusted performance relative to their peers. Lipper, a Thomson Reuters company, is a global leader in supplying mutual fund information, analytical tools and commentary. The award-winning funds are among the 140,000 funds Lipper tracks globally. The Lipper Fund Awards were awarded based on the best risk-adjusted performance over the three-year periods ended December 31 for the years of 2006, 2007, 2008 and 2009 and for the three-year periods ended October 31 for the years 2010 and 2011.

Phillips, Hager & North Investment Management is an operating division of RBC Global Asset Management Inc.

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), and includes institutional money managers BlueBay Asset Management, Phillips, Hager & North Investment Management and RBC Global Asset Management (U.S.). RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through exchange-traded funds, hedge funds, mutual funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage approximately $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 is one of the world's top 10 largest wealth managers. RBC Wealth Management directly serves affluent, high-net-worth and ultra high-net-worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, 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, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$525 billion of assets under administration, more than C$305 billion of assets under management and approximately 4,300 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