TORONTO, Feb. 4 /CNW/ - RBC Asset Management Inc. today announced January
net sales of $1.7 billion. Money market funds had net sales of $1.9 billion
and long term funds had net redemptions of $199 million. Assets under
management decreased by $1.0 billion or one per cent in January.
RBC Asset Management net sales results for the 12 months ended January 31
were $9.8 billion, including $4.7 billion in long term net sales and
$5.1 billion in money market net sales. Assets under management have increased
by $8.4 billion or 11 per cent over the same period.
Packaged solutions, led by RBC Select Portfolios, totalled $183 million
in net sales for the month, showing strong resilience in the face of more
volatile equity markets.
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 offices in major financial centres around
the world, RBC Asset Management Inc. is one of Canada's largest money managers
and has over $87 billion in assets under management.
The RBC Asset Management mutual fund family was awarded the "Best Overall
Fund Group" in Canada for 2007 by Lipper Inc. The prestigious award is part of
a global program of events held by Lipper in 21 countries to highlight funds
and fund families that excel in delivering consistently strong risk-adjusted
performance relative to their peers. Visit our website at www.rbcam.com. At
the Canadian Investment Awards on November 29, 2007, the RBC Global Resources
Fund was recognized as the top Natural Resource equity fund in Canada for
RBC 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, 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
For further information:
For further information: Rina Cortese, RBC Wealth Management
Communications, (416) 974-6970; Jackie Braden, RBC, Media Relations, (416)