Mutual fund net sales ticked up a bit in August, according to the latest data from the Investment Funds Institute of Canada (IFIC).

IFIC reported, that based on data from Investor Economics Inc., industry net sales came in at $2.29 million for the month, up from $2.1 billion in July, and far ahead of the $202.3 million reported in the year earlier period. August 2012 results pushed year-to-date net sales to $26.4 billion.

Once again, long-term funds generated all of the net sales, with money market funds suffering $297.5 million in redemptions.

Bond funds led the way in August, with $1.68 billion in monthly net sales, down slightly from $1.81 billion in July.

This was followed closely by balanced funds, with $1.64 billion worth of net sales in August — up slightly from $1.58 billion in July.

Meanwhile, equity funds had net redemptions of $1.16 billion in August, up from $861.3 million in July. Year to date, equity fund redemptions climbed to $8.85 billion; about double the $4.4 billion total recorded in the same period last year.

Total mutual fund assets under management reached $811.7 billion at the end August, which by about $9 billion, or 1.1%, from July.