Net sales for Canada’s mutual fund industry totalled $1.5 billion in June, compared with net sales of $2.3 billion the previous month, the Investment Funds Institute of Canada (IFIC) announced on Monday.
Year-to-date net sales were $16.6 billion, down sharply from the $40.9 billion reported in the first six months of 2015.
Net sales of long-term funds were $1.8 billion in June, while net redemptions of money market funds were $301 million.
Balanced funds’ net sales totalled $1.7 billion in June, compared to net sales of $1.8 billion in May.
Bond funds’ net sales in June rose to $783 million from net sales of $667 million in May.
Equity funds’ net redemptions totalled $768 million, compared to net redemptions of $244
million last month.
Assets under management (AUM) for the mutual funds industry totalled $1.27 trillion, IFIC says.
AUM decreased by $2 billion or 0.17% compared to May 2016.
Monthly sales data are compiled from IFIC and other sources. Aggregate totals are provided by Toronto-based Investor Economics Inc.
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