RBC Global Asset Management Inc. Appoints New Sub-Advisor and Announces Fund Name Changes to Enhance Transparency for Investors

TORONTO, Dec. 17, 2012 /CNW/ - RBC Global Asset Management Inc. today announced that Guardian Capital LP has been appointed as sub-advisor of the RBC Private Core Canadian Equity Pool (the "Pool"). The name of the Pool will also be changed to RBC Private Canadian Growth Equity Pool. These changes are effective January 7, 2013. The investment objectives of the Pool have not changed; however, the new name more clearly identifies the Pool's investment strategies and process.

Founded in 1962, Guardian Capital LP is the institutional investment management subsidiary of Guardian Capital Group Ltd., a public company that trades on the Toronto Stock Exchange. Guardian Capital LP manages over $16.6 billion in assets on behalf of its clients as of September 30, 2012. Guardian Capital LP offers its investment management expertise in equity and fixed-income management to pension funds, institutions, endowment/foundations, charitable organizations, mutual funds, and high net worth individuals.

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 more than $270 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$577 billion of assets under administration, more than C$339 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.

SOURCE: RBC

For further information:

Yen To, RBC GAM Communications, 416-955-5916
Leah Commisso, RBC GAM Media Relations, 416-955-6498