The Investment Funds Institute of Canada is estimating a wide range for April mutual fund net sales. IFIC reported that, based on a sample of preliminary data from some of its members, net sales for the month are estimated to be between $57 million and $557 million.

Once again, it appears that the sales will be focused in short-term funds, with long-term funds recording net redemptions for the month. RBC Asset Management is on track to lead the way with $760 million in net sales, but $581 million of that is on the short-term side.

Dynamic Mutual Funds is RBC’s closest rival, albeit a distant second at $274 million in overall net sales. However, the firm boasts $324 million in long-term net sales, leading second place Fidelity’s $182 million, and RBC’s $180 million total.

AIM Trimark is reporting $653 million in overall net redemptions.

IFIC also estimates that net assets of the mutual fund industry at the end of April will be in the range of $702.6 billion to $707.6 billion, up approximately 2.54% from last month’s total of $687.6 billion.

“Performance in just about every equity market this month was healthy.” said Pat Dunwoody, vice president of member services and communications with IFIC. “Assets under management for the industry grew by over 2.5% from March, however sales for April were below what we’ve seen over the past few years.”