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AuM Flat at RBC Asset Management
Nick Parmee
6 August 2008
Royal Bank of Canada Asset Management had net sales of $917 million last month, with money market fund net sales of $744 million and long term funds net sales of $173 million. Assets under management decreased by $0.8 billion, or 0.9 per cent, in the month. Sister company Phillips, Hager & North had July net redemptions of $239 million. Money market funds again did better with net redemptions of $5 million; long term funds had net redemptions of $234 million. Assets under management decreased by $0.4 billion, or 2.1 per cent, in the month. Net sales of risk-managed portfolio solutions totalled $178 million in July. The top selling individual fund was the recently renamed