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

    TORONTO, April 2 /CNW/ - RBC Asset Management Inc. (RBC AM) and Phillips,
Hager & North (PH&N) announced March net sales of $974 million. Money market
funds had net sales of $980 million and long term funds had net redemptions of
$6 million. Assets under management increased by $3.9 billion, or 4.4 per
cent, in March.
    "We continue to see strong demand by investors for conservative
products," said Doug Coulter, president of RBC AM. "RBC Select Portfolios saw
sales of approximately $100 million in March, with our new Select Very
Conservative portfolio accounting for $28 million of that amount - a strong
result for this fund in its first month."

    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
received the Lipper Awards for "Best Overall Fund Group" and "Best Bond
Family" in Canada respectively for the second consecutive year in 2008.
    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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