Lipper names RBC Asset Management as Canada's Best Bond Fund Family

        RBC Asset Management and Phillips, Hager & North also receive
                    seven individual fund category awards

    TORONTO, April 29 /CNW/ - RBC Asset Management Inc. (RBC AM) has received
the award for Best Bond Fund Family in Canada by Lipper Inc.
    RBC AM was presented the award for having the bond fund family with the
best risk-adjusted performance over a three-year time period ended December
31, 2008. The award, presented at last night's Lipper Fund Awards 2009
ceremony, is part of a global program of events held in 21 countries to
highlight funds and fund families that excel in delivering consistently strong
risk-adjusted performance relative to their peers.
    "We are very pleased by this recognition of our talented fixed income
management team," said Doug Coulter, president of RBC AM. "In the current
market environment, investors are particularly interested in conservative
investment options, and this award validates the fact that our bond funds are
among the best managed in the country."
    Phillips, Hager & North (PH&N), a wholly owned subsidiary of RBC since
May, 2008, won the Best Bond Fund Family award in 2007 and 2008. "The combined
expertise of RBC AM and PH&N results in a strong and diversified range of
fixed income funds for investors to choose from," noted Coulter.
    RBC AM also received Lipper awards in the Canadian Fixed Income category
for the RBC Canadian Bond Index Fund (for one-, three- and five-year periods),
and in the Precious Metals Equity category for the RBC Global Precious Metals
Fund (one-year period). The PH&N High Yield Bond Fund received awards in the
High Yield Fixed Income category (for one-, three- and five-year periods).
    Combined, the RBC AM and PH&N fixed income management teams comprise 36
investment professionals and manage over $90 billion in assets (as at December
31, 2008).

    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.

    About RBC Asset Management, Phillips, Hager & North and RBC Wealth

    Combined, RBC Asset Management Inc. (RBC AM) and Phillips, Hager & North
Investment Management Ltd. (PH&N) have $94 billion in IFIC-reported mutual
fund assets under management and an additional $50 billion in other
institutional and private client assets under management.

    RBC AM and PH&N are part of RBC Wealth Management, which directly serves
affluent and high net worth clients in Canada, the United States, Latin
America, Europe and Asia. RBC Wealth Management also provides asset management
and trust products and services directly and through RBC and third-party
distributors to all client segments, and has over $450 billion of assets under
administration, more than C$220 billion of assets under management and more
than 4,000 financial consultants, advisors, private bankers and trust

For further information:

For further information: Chris Dotson, RBC Global Asset Management
Communications, (604) 408-6009; Jackie Braden, RBC Media Relations, (416)

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