RBC Asset Management Inc. And Phillips, Hager & North March Sales Results

TORONTO, April 2, 2009 — RBC Asset Management Inc. (RBC AM) and Phillips, Hager & North (PH&N) announced March net sales of $974 million. Money market funds had net sales of $980 million and long term funds had net redemptions of $6 million. Assets under management increased by $3.9 billion, or 4.4 per cent, in March.

“We continue to see strong demand by investors for conservative products,” said Doug Coulter, president of RBC AM. “RBC Select Portfolios saw sales of approximately $100 million in March, with our new Select Very Conservative portfolio accounting for $28 million of that amount – a strong result for this fund in its first month.”

About RBC Asset Management, Phillips, Hager & North and RBC Wealth Management
Combined, RBC Asset Management Inc. (RBC AM) and Phillips, Hager & North Investment Management Ltd. (PH&N) have $94 billion in IFIC-reported mutual fund assets under management and an additional $50 billion in other institutional and private client assets under management. RBC AM and PH&N received the Lipper Awards for “Best Overall Fund Group” and “Best Bond Family” in Canada respectively for the second consecutive year in 2008.

RBC AM and PH&N are part of RBC Wealth Management, which directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia. RBC Wealth Management also provides asset management and trust products and services directly and through RBC and third-party distributors to all client segments, and has nearly $500 billion of assets under administration, more than C$220 billion of assets under management and more than 4,000 financial consultants, advisors, private bankers and trust officers.