Phillips, Hager & North awarded Best Overall Fund Group and Best Bond Fund Family by Lipper Inc.

RBC Asset Management and Phillips, Hager & North also receive three individual fund category awards

TORONTO, Phillips, Hager & North Investment Management Ltd. (PH&N) was awarded the Best Overall Fund Group and Best Bond Fund Family in Canada by Lipper Inc., a global leader in supplying mutual fund information, at an awards ceremony held yesterday in Toronto. PH&N received the awards for having the overall fund group and bond fund family with the best risk-adjusted performance over a three-year period ended December 31, 2009.

“It is an honour to be recognized by the Lipper Fund Awards for the fourth consecutive year, especially in light of the challenging market conditions,” said Dan Chornous, chief investment officer of RBC Global Asset Management. “At the heart of our approach are teams of talented investment professionals and analysts. Our success reflects their focus on rigorous and consistent research, and our culture of keeping clients at the forefront of everything we do.”

In the individual fund categories, PH&N Short Term Bond & Mortgage Fund won the Canadian Short Term Fixed Income award for all time periods (one, three, five and 10 years). For the second year in a row, PH&N High Yield Bond Fund won in the High Yield Fixed Income category for the three- and five-year periods. RBC Monthly Income Fund won in the Canadian Neutral Balanced category for its 10 year risk-adjusted performance.

PH&N, a wholly owned subsidiary of RBC since May 2008, won the Best Bond Fund Family award in 2007 and 2008. RBC Asset Management Inc. (RBC AM) won the Best Bond Fund Family award in 2009 and was awarded the Best Overall Fund Group in 2007 and 2008.

The 2010 Lipper Fund Awards is part of a global program of events held in 21 countries to highlight funds and fund families that excel in delivering consistently strong risk-adjusted performance relative to their peers.

Lipper, a Thomson Reuters company, is a global leader in supplying mutual fund information, analytical tools and commentary. The award-winning funds are among the 140,000 funds Lipper tracks globally.

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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. Dan Chornous is CIO of RBC AM and PH&N. Combined, RBC GAM’s component 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 GAM 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 with a full suite of investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, and has more than $500 billion of assets under administration, over $245 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.