Mutual fund net sales in December are estimated to be between $1.4 billion to $1.9 billion, according to preliminary data from the Investment Funds Institute of Canada.

“December marked another month of sizable sales,” said Tom Hockin, president & CEO of IFIC.

If the December sales estimate stands, sales for 2005 would total about $23.4 billion. That’s up almost 60% from a year ago.


RBC Asset management continued to deliver the highest sales, $435 million worth. It was closely followed by IGM Financial, with $378 million in total net sales; and TD Asset Management, which had $344 million in sales. Franklin Templeton, PH&N, BMO Funds and CI each recorded more than $100 million in monthly net sales.

However, net redemptions were evident at several firms, including CIBC Asset Management, Scotia Securities, AIM Trimark, AIC and AGF.

IFIC also estimates that net assets of the industry at the end of December will be in the range of $567 to $572 billion, up approximately 2.5% from last month’s total of $556.2 billion.