Mutual fund net sales came in little changed for June at $5.1 billion, according to the latest data from the Investment Funds Institute of Canada (IFIC).
This is down slightly from the previous month ($5.25 billion) and exactly in line with June 2014, IFIC reports. A closer look at the data reveals that long-term fund net sales totalled $5.1 billion in June whereas money market funds recorded net redemptions of a mere $21 million.
Balanced funds continued to lead the way in June, with $4 billion in net sales, down slightly from $4.3 billion in May. Bond funds added another $325.1 million worth of net sales and equity funds contributed $163.9 million.
Through the first half of 2015, overall net sales were $41.2 billion, comprised of $42.2 billion in net sales for long-term funds and net redemptions of $1 billion for money market funds. By asset class, balanced funds have been the leader, with $33.6 billion in net sales so far this year, followed by equity funds ($4 billion) and bond funds ($24 billion).
IFIC also reports that total mutual fund assets under management (AUM) declined by 1.1% in June to finish the first half at $1.2 trillion. However, AUM was up by 10.8% from June 2014.
Sales data is compiled from IFIC and other sources. Aggregate totals are provided by Investor Economics Inc.