The Investment Funds Institute of Canada says it expects net new mutual fund sales for June to come in at about $350 million. That would be a 34% drop from the previous month.

IFIC said that based on a sample of preliminary data from some of its members net new sales for the month “are estimated to be between $150 million to $550 million.” In May, net sales were $533 million.

At the end of June, assets stood at between $473 and $478 billion. That compares with $473.7 billion at the end of May.

“Net sales for the month of June are expected to be approximately $350 million,” Tom Hockin, IFIC president and CEO, said in a release. “History shows that sales for the month of June are typically slower than May.”

http://www.ific.ca/pdf/QUICK_Stats-2004-06_Press_Release.PDF