Mutual fund net sales for November are estimated to be between $2.1 billion to $2.5 billion. The preliminary estimate is based on a sample of members of the Investment Funds Institute of Canada.

“This marks the highest November sales since 2001 and the fifth straight month in which net assets have increased,” said Pat Dunwoody, vp member services & communications.

RBC Asset Management led the way once again, with $742 million in net sales, followed by TD Asset Management, at $431 million. Other firms with at least $100 million in net sales included IGM Financial, CIBC Asset Management, BMO Funds, Scotia Securities, Desjardins, Franklin Templeton, and Brandes Investment Partners.

Among the larger firms, AIM Trimark was the only one recording net redemptions, but several smaller firms also finished the month in the red. AIC, Manulife, Guardian and Altamira all generated net redemptions.

IFIC also estimates that net assets of the industry were in the range of $641 billion to $646 billion, up approximately 2.3% from last month’s total of $629.6 billion.