TORONTO, June 4 /CNW/ - RBC Asset Management Inc. today announced record
May net long term fund sales of $514 million. Money market net sales were
$67 million for a total of $581 million in overall net sales for the month.
RBC Asset Management net sales results for the 12 months ended May 31, 2007
were $7.6 billion, including $5.7 billion in long-term net sales and $1.9
billion in money market net sales. Assets under management have increased by
$16.2 billion or 26 per cent over the same period.
"Our record results in May reflect the strength of our product line, our
focus on value and performance and our distribution relationships," said
Brenda Vince, president, RBC Asset Management. "We have built a client-focused
business that can deliver strong results year-round."
In keeping with its focus on continually improving value for investors
and expanding distribution relationships, RBC Asset Management announced in
May that over forty RBC Funds will be available exclusively through RBC Direct
Investing in a new Series D. Series D represents the first mutual fund fee
structure in Canada from a major fund company that offers a lower-priced
option tailor-made for the self-directed investor.
Net sales of the RBC Select Portfolios totalled $227 million in May and
now exceed $9.6 billion in assets under management. Top selling individual
funds included the RBC O'Shaughnessy International Equity Fund with
$53 million in net sales and the RBC O'Shaughnessy U.S. Value Fund with
$33 million in net sales.
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.
RBC Asset Management's 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: Jackie Braden, Media Relations, (416) 974-2124