RBC Asset Management Inc. May sales results

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.