TORONTO, April 16, 2007 — RBC Asset Management Inc., a leader in Canada’s mutual fund industry, announced a number of new appointments today to manage its line-up of Canadian equity funds. 

“I am pleased to announce a number of significant appointments within the RBC Asset Management Canadian equity team,” said Dan Chornous, chief investment officer, RBC Asset Management Inc.  “These announcements reflect our desire to take full advantage of the depth of talent and effective investment process that has been at the core of our solid investment returns and strong growth over the past half decade. We are committed to building on that record.”

Stu Kedwell and Doug Raymond will assume shared management responsibilities for the RBC Monthly Income Fund, the RBC Canadian Dividend Fund, the RBC North American Dividend Fund and the RBC Private Canadian Dividend Pool.  “Stu and Doug have worked together for many years and have delivered excellent investment returns to investors across a range of Canadian equity mandates,” said Chornous.  “Both individuals have continued to demonstrate the value of a multi-disciplined, consistent approach to security selection.  These talents and tools are especially well suited to the mandates now under their care.”

Jennifer McClelland will join Stu and Doug in managing the RBC Monthly Income Fund.  Jennifer’s industry experience dates back to 1994 and she currently manages a number of important mandates including the RBC Select Portfolios, with over $9 billion in assets.

Martin Paleczny has been appointed lead manager of the RBC Tax Managed Return Fund.  Martin has over 13 years of investment industry experience and will join Suzanne Gaynor, who will continue to manage the fund’s fixed income holdings.  Cameron Winser will focus on the U.S. equity portion of the fund and will also assist in making U.S. equity selections within the RBC North American Dividend Fund.  

Warner Sulz will continue as Head of Canadian Equities and as lead Portfolio Manager of the RBC Canadian Equity Fund, the RBC North American Growth Fund and the RBC Private Mid-Cap Canadian Equity Pool. Warner will also continue managing the Canadian equity portions of the RBC Balanced Fund and the RBC Balanced Growth Fund.

“We have a robust process behind a very talented team, and investors will continue to benefit from these strengths going forward,” said Chornous. “The funds will continue to be managed as before, incorporating the RBC Asset Management multi-disciplined approach to stock selection along with asset mix recommendations from the RBC Investment Strategy Committee.”

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 $78 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.rbcam.com.

The RBC Asset Management mutual fund family was recently awarded the “Best Overall Fund Group” in Canada by Lipper Inc. for having the best risk-adjusted performance over a three-year time period ending December 31, 2006. The prestigious award is part of a global program of events held by Lipper, a global leader in supplying mutual fund information, analytical tools and commentary.

RBC Asset Management Inc. 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, provides asset management and trust services through RBC partners and third-party distributors and has over $500 billion of assets under administration, 3,500 financial advisors and $150 billion of assets under management.

 

For further information, please contact:
Teresa Pagnutti, RBC Wealth Management, (416) 974-6970, teresa.pagnutti@rbc.com
Jackie Braden, RBC, (416) 974-2124, jackie.braden@rbc.com