RBC Global Asset Management announces launch of new bond fund of funds: RBC
Monthly Income Bond Fund

TORONTO, Oct. 19 /CNW/ - RBC Global Asset Management (RBC GAM) today announced the launch of the RBC Monthly Income Bond Fund, a diversified portfolio of bond mutual funds from two award-winning bond fund families: PH&N Funds and RBC Funds^TM.

"The RBC Monthly Income Bond Fund has a conservative profile that offers investors a one-decision, fixed-income investment solution. Investors benefit from the active management of two fixed-income teams, a portfolio that is regularly rebalanced and a monthly distribution with a payout rate of approximately 3 per cent," said Sarah Riopelle, Portfolio Manager, RBC Global Asset Management. "We are pleased to offer investors a diverse fixed-income portfolio that combines the strengths of our fixed-income fund families, provides a monthly income stream and presents another option to stand-alone bond funds, which may pay distributions on a quarterly basis only."

This fund of funds is appropriate for investors seeking exposure to a diversified portfolio of fixed-income securities and a source of regular monthly income. Furthermore, it is suitable for investors who can tolerate fluctuations in the value of their investments.

RBC Monthly Income Bond Fund
PH&N Short Term Bond & Mortgage Fund	40%
PH&N Total Return Bond Fund	20%
RBC Bond Fund	20%
RBC Global Corporate Bond Fund	10%
RBC Emerging Markets Bond Fund	5%
RBC High Yield Bond Fund	5%

Individual investors can purchase the RBC Monthly Income Bond Fund through four low management fee options: 0.65 per cent for Series D (for those who invest directly through PH&N Investment Services and RBC Direct Investing), 1.00 per cent for Series A, 1.00 per cent for Advisor Series and 0.50 per cent for Series F (available through financial advisors).

Please read the prospectus before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

About RBC Global Asset Management and RBC Wealth Management

RBC Global Asset Management (RBC GAM) comprises RBC Asset Management Inc. (RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) and RBC Global Asset Management (U.S.) Inc. RBC GAM group of companies manage approximately $200 billion in assets, including over $100 billion in IFIC-reported mutual fund assets in Canada. PH&N won the Lipper Awards for "Best Overall Fund Group" in 2010 and "Best Bond Fund Family" in 2007, 2008 and 2010; RBC AM won the Lipper Awards for "Best Bond Fund Family" in 2009 and "Best Overall Fund Group" in 2007 and 2008. Website: www.rbcgam.com.

RBC Global 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. RBC Wealth Management provides integrated and diversified international wealth management expertise and solutions, asset management and trust services to high net worth individuals and to corporate and institutional clients. Services provided by RBC Wealth Management consultants, advisors, private bankers and trust officers include trust and estate planning, tax advice, discretionary investment management and investment advisory services, structured solutions, banking, lending and global custody. RBC Wealth Management has more than $490 billion of assets under administration, nearly $240 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.

For further information:

Yen To, RBC Global Asset Management Communications, 416 955-5916
Elyse Lalonde, RBC, Media Relations, 416 974-8810