TORONTO, Aug. 2 /CNW/ - RBC Asset Management Inc. today announced July
net long term fund sales of $434 million. Money market funds had net sales of
$43 million for a total of $477 million in overall net sales for the month.
RBC Asset Management net sales results for the 12 months ended July 31, 2007
were $8.1 billion, including $6.2 billion in long-term net sales and
$1.9 billion in money market net sales. Assets under management have increased
by $14.2 billion or 22 per cent over the same period.
Net sales of RBC Portfolio solutions exceeded $300 million in July,
reflecting investors and advisors continued discipline and focus on long-term
strategies in the face of recent market volatility.
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 $83 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)