Investors Group Inc. reported yesterday that it had net redemptions of $48.7 million in October, while CI Fund Management Inc. recorded net sales of $180 million for the same month.

Investors Group sold $303.4 million in mutual funds last month, but at the same time, it saw unitholders redeem $352.1 million of units, leaving the company in a net redemption position. All three figures are down from a year earlier, including the net redemption figure, which stood at $51.2million in October 2003.

CI reported total net sales of $180 million in October. Subsidiary CI Mutual Funds Inc. had net sales of $31 million, while Assante Wealth Management had net sales of $29 million and Skylon Advisers Inc. recorded net sales of $120 million following the completion of the initial public offering of Skylon All Asset Trust. CI Fund Management acquired both Skylon and Assante a year ago.