RBC Asset Management Inc. and Phillips, Hager & North August Sales Results

    TORONTO, Sept. 2 /CNW/ - RBC Asset Management Inc. (RBC AM) and Phillips,
Hager & North (PH&N) announced August net redemptions of $1.1 billion. Money
market funds had net redemptions of $1.6 billion and long term funds had net
sales of $470 million. Assets under management increased by $0.2 billion, or
0.2 per cent, in August.
    "We have seen positive long term fund sales in every month of 2009," said
Doug Coulter, president of RBC AM. "August has continued that trend, as
investors continue to redeploy their cash and near-cash assets into long term

    About RBC Global Asset Management and RBC Wealth Management
    RBC Global Asset Management (RBC GAM) comprises RBC Asset Management Inc.
(RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) and
Voyageur Asset Management Inc. Combined, RBC GAM's component companies manage
approximately $200 billion in assets in Canada and the United States,
including over $100 billion in IFIC-reported mutual fund assets in Canada. 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
2008. Website: www.rbcgam.com.

    RBC GAM 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 with a full suite of investment, trust and other wealth management
solutions. The business also provides asset management products and services
directly and through RBC and third-party distributors to institutional and
individual clients, and has more than $490 billion of assets under
administration, more than $240 billion of assets under management and more
than 4,500 financial consultants, advisors, private bankers and trust

For further information:

For further information: Chris Dotson, RBC Global Asset Management
Communications, (604) 408-6009

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