TORONTO, Dec. 4 /CNW/ - RBC Asset Management Inc. today announced
November net long term fund sales of $276 million. Money market funds had net
sales of $1.037 billion for a total of $1.313 billion in overall net sales for
the month. RBC Asset Management net sales results for the 12 months ended
November 30, 2007 were $8.1 billion, including $6.0 billion in long-term net
sales and $2.1 billion in money market net sales. Assets under management have
increased by $10.6 billion or 15 per cent over the same period.
"We are gratified by the confidence investors and advisors have placed in
our money market funds," said Brenda Vince, President, RBC Asset Management.
The new RBC Premium U.S. Dollar Money Market Fund, launched on November 1,
2007, had net sales of $194 million in its first month.
Packaged programs, led by RBC Select Portfolios and RBC Managed
Portfolios, totalled $274 million in net sales of the month. "The value of
portfolio solutions to investors continues to be validated even through this
period of increased market volatility," added Vince.
Other top selling funds were the RBC Cash Flow Portfolios with
$44 million in net sales and the RBC Canadian Dividend Fund with $37 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 $87 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. At
the Canadian Investment Awards on November 29, 2007, the RBC Global Resources
Fund was recognized as the top Natural Resource equity fund in Canada for
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)