RBC Asset Management Inc. and Phillips, Hager & North April sales results

    TORONTO, May 4 /CNW/ - RBC Asset Management Inc. (RBC AM) and Phillips,
Hager & North (PH&N) announced April net sales of $818 million. Money market
funds had net sales of $665 million and long term funds had net sales of $153
million. Assets under management increased by $3.3 billion, or 3.5 per cent,
in April.
    "We are encouraged to see investors moving more confidently into
longer-term funds," said Doug Coulter, president of RBC AM. "With RBC AM
having just been named Canada's Best Bond Fund Family at the 2009 Lipper
Awards, we are also pleased to see strong sales of fixed income products such
as the PH&N High Yield Bond Fund, PH&N Total Return Bond Fund, and RBC
Canadian Short-Term Income Fund."

    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 $97 billion in IFIC-reported mutual
fund assets under management and an additional $49 billion in other
institutional and private client assets under management. RBC AM won the
Lipper Awards for "Best Bond Fund Family" in 2009 and "Best Overall Fund
Group" in 2007 and 2008; PH&N won for "Best Bond Fund Family" in 2007 and
    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 nearly $500 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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