Canadian fund sales total CAD1.55bn in May, says IFIC
Industry Net sales for the Canadian fund industry for May, 2012 were CAD1.55 billion while year-to-date net sales total CAD16.6 billion, according to the figures released by the Investment Funds Institute of Canada (IFIC)
Long-term funds’ net sales were CAD1.75 billion and year-to-date net sales were CAD19.8 billion.
Money Market funds’ net redemptions were CAD200.8 million and year-to-date net redemptions were CAD3.13 billion.
Balanced funds’ net sales in May, 2012 totalled CAD1.77 billion compared to net sales of CAD2.24 billion last month. Year-to-date net sales for balanced funds totalled CAD14.5 billion compared to net sales of CAD20.3 billion for the same period last year.
Bond funds’ net sales in May, 2012 totalled CAD1.19 billion compared to net sales of CAD744.8 million last month. Year-to-date net sales for bond funds totalled CAD8.98 billion compared to net sales of CAD1.13 billion for the same period last year.
Equity funds’ net redemptions in May, 2012 totalled CAD1.61 billion compared to net redemptions of CAD732.0 million last month. Year-to-date net redemptions for equity funds totalled CAD5.28 billion compared to net redemptions of CAD743.2 million for the same period last year.
“For the month of May, 2012, the Assets Under Management (AUM) for the mutual fund industry was CAD789.1 billion. Year-to-date, industry AUM increased by CAD19.4 billion or 2.52%,” says Jon Cockerline, IFIC’s Director, Policy & Research. “Net sales for the mutual fund industry totalled CAD1.55 billion. Net sales of long-term funds were CAD1.75 billion and net redemptions of money market funds were $200.8 million.”
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