SCHOOL MAY BE OUT, BUT RBC REMINDS PARENTS TO INVEST FOR THEIR CHILDREN’S EDUCATION

TORONTO, July 3, 2007 — RBC Asset Management today announced the launch of the RBC Target 2025 Education Fund. This new fund builds on the existing suite of target date funds that help parents save for their children’s education.

“Target date funds make it easy to manage investments for goals with specific target dates. Saving for a child’s education is a perfect application,” said Brenda Vince, president, RBC Asset Management Inc. “While there are other potential uses for target date funds, we encourage investors to work actively with their advisor for more complex goals such as retirement, to ensure each client’s unique circumstances are considered.”

With this launch, RBC Asset Management continues its leadership in the development of portfolio solutions and “life cycles” funds. The RBC Target Education Funds were an industry first in Canada, when launched in 2004. These “life cycle” funds are designed to deliver growth up front, gradually becoming more conservative over time as a client’s target date approaches.

RBC Asset Management also announced the launch of Series T versions of five of its most popular funds – RBC Balanced Fund, RBC Balanced Growth Fund, RBC Canadian Dividend Fund, RBC North American Dividend Fund, and RBC Global Dividend Growth Fund. Tax-efficient Series T units pay monthly distributions, which are expected to consist primarily of return of capital and capital gains. The target distribution is 8 per cent annually, paid monthly. The distribution amount will be reviewed each year, and re-set to 8 per cent of the net asset value per unit.

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 offices in major financial centres around the world, RBC Asset Management Inc. is one of Canada’s largest money managers.

RBC Asset Management’s mutual fund family was awarded the “Best Overall Fund Group” in Canada for 2007 by Lipper Inc. The prestigious award is part of a global program of events held by Lipper in 21 countries to highlight funds and fund families that excel in delivering consistently strong risk-adjusted performance relative to their peers. Visit our website at www.rbcam.com.

RBC 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, 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 asset under management.

 

For further information, please contact:
Rina Cortese, RBC Wealth Management, (416) 974-6970, rina.cortese@rbc.com
Jackie Braden, RBC, (416) 974-2124, jackie.braden@rbc.com