Mutual funds recorded $800 million in net sales for August, all of it in money market funds, according to the latest data from the Investment Funds Institute of Canada.

Net sales for the month were $799.6 million, up from $646 million in July and $1.55 billion in net redemptions during the same month last year.

Money market fund sales reached $944.1 million in the month, which was down from July’s $1.36 billion.

Long-term funds were in net redemptions for August, $144.5 million worth. Although redemptions were down from $715.8 million in July and $558.8 million in the month last year.

While overall long-term sales were in negative territory, balanced funds managed $504.9 million in positive net sales, and bond fund net sales reached $82.4 million. However, equity fund sales remained in net redemption territory at $764.3 million, down from the previous month’s $1.15 billion in net redemptions.

Fund-of-fund sales were $360.5 million in August, down from $422.2 million in July and $787.2 million last year.

RBC led overall sales, with $432.5 million worth. Fidelity Investments Canada ranked second with $300 million in net sales, and Dynamic Mutual Funds was third at $253.4 million. Scotia Securities was the only other firm to top $100 million in overall monthly net sales.

On the long-term side, Fidelity was the top firm with just under $300 million in net sales, followed closely by Dynamic. No one else managed $100 million in long-term net sales, Scotia ranked third at $75.9 million.