RBC Asset Management Inc. today introduced RBC Premium $U.S. Money Market Fund to its existing line-up of money market funds.

The fund is designed for investors with larger U.S. dollar balances who are looking for liquidity at a lower price than traditional U.S. dollar money market funds and better returns than what is currently available on U.S. dollar savings accounts.

“With the Canadian dollar at a near all-time high, the RBC Premium $U.S. Money Market Fund is both a timely and better-priced solution for larger U.S. dollar balances,” says Brenda Vince, president of RBC Asset Management. “

The RBC Asset Managment team currently oversees more than $10 billion in money market assets, Vince says.

The fund will be managed for both return and liquidity, in the same way as the existing RBC $U.S. Money Market Fund, but with a lower management fee of 0.35% (versus 0.90%) and a higher minimum investment amount of US$100,000 (versus US$500).

The fund will distribute income monthly, be available to advisor-channel clients in both no load and fee-based account versions effective November 1, and will be launched in the RBC retail network in January 2008.