TORONTO, Oct. 2 /CNW/ - RBC Asset Management Inc. today announced
September net long term fund sales of $284 million. Money market funds had net
sales of $46 million for a total of $330 million in overall net sales for the
month. RBC Asset Management net sales results for the 12 months ended
September 30, 2007 were $7.1 billion, including $6.2 billion in long-term net
sales and $0.9 billion in money market net sales. Assets under management have
increased by $13.2 billion or 20 per cent over the same period.
"Our September results reflect a solid start to the fall investment
season," said Brenda Vince, president, RBC Asset Management. "Income oriented
solutions were strong sellers. The RBC Tax Managed Return Fund, a popular
choice for income investors, was our top selling fund with over $29 million in
net sales. Our two RBC Cash Flow Portfolio Funds totalled over $26 million in
net sales for the month."
Net sales of the RBC Select Portfolios totalled $131 million in September
and now exceed $10.1 billion in assets under management.
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 $84 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.
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: Media contacts: Rina Cortese, RBC Wealth
Management, (416) 974-6970; Jackie Braden, RBC Media Relations, (416)