RBC Asset Management Announces Portfolio Management Appointments



    TORONTO, April 16 /CNW/ - RBC Asset Management Inc., a leader in Canada's
mutual fund industry, announced a number of new appointments today to manage
its line-up of Canadian equity funds.
    "I am pleased to announce a number of significant appointments within the
RBC Asset Management Canadian equity team," said Dan Chornous, chief
investment officer, RBC Asset Management Inc. "These announcements reflect our
desire to take full advantage of the depth of talent and effective investment
process that has been at the core of our solid investment returns and strong
growth over the past half decade. We are committed to building on that
record."
    Stu Kedwell and Doug Raymond will assume shared management
responsibilities for the RBC Monthly Income Fund, the RBC Canadian Dividend
Fund, the RBC North American Dividend Fund and the RBC Private Canadian
Dividend Pool. "Stu and Doug have worked together for many years and have
delivered excellent investment returns to investors across a range of Canadian
equity mandates," said Chornous. "Both individuals have continued to
demonstrate the value of a multi-disciplined, consistent approach to security
selection. These talents and tools are especially well suited to the mandates
now under their care."
    Jennifer McClelland will join Stu and Doug in managing the RBC Monthly
Income Fund. Jennifer's industry experience dates back to 1994 and she
currently manages a number of important mandates including the RBC Select
Portfolios, with over $9 billion in assets.
    Martin Paleczny has been appointed lead manager of the RBC Tax Managed
Return Fund. Martin has over 13 years of investment industry experience and
will join Suzanne Gaynor, who will continue to manage the fund's fixed income
holdings. Cameron Winser will focus on the U.S. equity portion of the fund and
will also assist in making U.S. equity selections within the RBC North
American Dividend Fund.
    Warner Sulz will continue as Head of Canadian Equities and as lead
Portfolio Manager of the RBC Canadian Equity Fund, the RBC North American
Growth Fund and the RBC Private Mid-Cap Canadian Equity Pool. Warner will also
continue managing the Canadian equity portions of the RBC Balanced Fund and
the RBC Balanced Growth Fund.
    "We have a robust process behind a very talented team, and investors will
continue to benefit from these strengths going forward," said Chornous. "The
funds will continue to be managed as before, incorporating the RBC Asset
Management multi-disciplined approach to stock selection along with asset mix
recommendations from the RBC Investment Strategy Committee."

    About RBC Asset Management
    RBC Asset Management Inc. is an indirect, wholly owned subsidiary of
Royal Bank of Canada. RBC Asset Management Inc. provides a broad range of
investment services to investors through mutual funds, pooled funds and
separately managed portfolios. With over $78 billion in assets under
management and offices in major financial centres around the world, RBC Asset
Management Inc. is one of Canada's largest money managers. Visit our website
at www.rbcam.com.
    The RBC Asset Management mutual fund family was recently awarded the
"Best Overall Fund Group" in Canada by Lipper Inc. for having the best
risk-adjusted performance over a three-year time period ending December 31,
2006. The prestigious award is part of a global program of events held by
Lipper, a global leader in supplying mutual fund information, analytical tools
and commentary.
    RBC Asset Management Inc. 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, provides asset management and trust services through
RBC partners and third-party distributors and has over $500 billion of assets
under administration, 3,500 financial advisors and $150 billion of assets
under management.




For further information:

For further information: Teresa Pagnutti, RBC Wealth Management, (416)
974-6970, teresa.pagnutti@rbc.com; Jackie Braden, RBC, (416) 974-2124,
jackie.braden@rbc.com


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