Source: The Canadian Press

Canadian investment in foreign securities further strengthened in March to $6.3 billion.

Statistics Canada says that’s the largest outflow of funds on this account in nearly two years.

In contrast, non-residents reduced their holdings of Canadian securities by $616 million, marking the first divestment since December 2008.

Canadian investors acquired $4.8 billion of foreign stocks in March, the largest outflow since May 2008.

Non-U.S. foreign stocks accounted for over 80% of the acquisitions, primarily European and Asian stocks.

Canadians acquired a further $1.5 billion of foreign bonds in March, again led by sizable investment in U.S. government bonds.

Acquisitions were moderated by reductions in Canadian holdings of non-U.S. foreign bonds in March, reflecting retirements in the maple bond sector.

Foreign investors withdrew considerable funds from the Canadian money market in March, removing $1.9 billion from their portfolios.