TORONTO, February 2, 2007 —  RBC Asset Management Inc. today announced record January net long term fund sales of $811 million. Money market net redemptions were $14 million for a total of $797 million in overall net sales for the month. For the 12 months ended January 31, 2007, RBC Asset Management recorded net sales of $6.7 billion, including $5.4 billion in long term net sales and $1.3 billion in money market net sales.

“January sales results are always a good indicator of how investors are feeling in the new year,” said Brenda Vince, president, RBC Asset Management. “Clearly, we are off to a good start, and Canadians continue to look to fund solutions that also offer excellent value for money.”

On January 22, 2007, RBC Asset Management launched the RBC Select Portfolios Aggressive Growth Fund, and two additions to its highly regarded RBC O’Shaughnessy Funds lineup – the RBC O’Shaughnessy All-Canadian Equity Fund and the RBC O’Shaughnessy Global Equity Fund. These new funds had sales of over $50 million in their first eight days of availability.

Net sales of the RBC Select Portfolios totalled $302 million in January and these portfolio solutions now exceed $8.0 billion in client assets. Top selling individual funds included the RBC Canadian Dividend Fund with $88 million in net sales and the RBC O’Shaughnessy International Equity Fund with $86 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 over $77 billion in assets under management and offices in major financial centres around the world, RBC Asset Management Inc. is one of Canada’s largest money managers. Visit our website at www.rbcfunds.com.

 

For further information, please contact:

Kathy Bevan, Media Relations, (416) 974-8810