RBC Asset Management Inc. today announced the launch of the RBC O’Shaughnessy U.S. Growth Fund II.

The fund is designed for long-term investors looking for exposure to primarily small and mid-cap U.S. securities with above-average growth potential. All U.S. currency exposure in the fund is hedged.

“O’Shaughnessy’s consistent and time-tested quantitative approach to security selection has led the RBC O’Shaughnessy Funds to deliver strong performance over the past 10 years, winning the respect of clients and advisors alike,” says Brenda Vince, president of RBC Asset Management. “Canadians now have $6 billion invested in the six RBC O’Shaughnessy Funds, the first three of which were introduced in 1997.”

The new fund is an alternative to the RBC O’Shaughnessy U.S. Growth Fund, which was launched November 1997 and was closed to new investors on June 30, 2006 due to capacity constraints.

Starting Jan. 14, 2008, the RBC O’Shaughnessy U.S. Growth Fund II will be available in a full range of series options for sale through full service and discount brokers, including RBC Dominion Securities and RBC Direct Investing.

Beginning Feb. 19, 2008, the fund will also be available through RBC branches, RBC Invest by Phone and RBC Online Banking.