RBC Asset Management terminates sub-advisor for RBC Private U.S. Value Equity Pool

    TORONTO, May 4 /CNW/ - RBC Asset Management Inc. today announced that it
has begun a search to identify a replacement sub-advisor for its RBC Private
U.S. Value Equity Pool ("the pool"). Boyar Asset Management Inc. will continue
its role as sub-advisor on the pool until another sub-advisor is identified.
RBC Asset Management will continue to provide investment management oversight
for the pool to ensure a smooth transition.

    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 $90 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 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

    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 more than $450 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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