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Canadian mutual fund assets totalled CAD837.6bn in November, says IFIC

Total Canadian mutual fund assets under management for November 2012 were CAD837.6bn, compared to CAD834.3bn in the previous month – an increase of CAD3.30bn, or 0.4 per cent – according to figures released by the Investment Funds Institute of Canada (IFIC).

Since November 2011, total mutual fund assets have increased by CAD65.0bn or 8.4 per cent.

Total net sales for November were CAD2.65bn, and were up compared to net sales of CAD2.10bn for the previous month, and were higher compared to net sales of CAD468.9m last November.

Long-term fund net sales totalled CAD3.27bn in November, and over the last 12 months ending November 2012 totalled CAD35.7bn.

Money market fund net redemptions in November were CAD616.2m. Over the last 12 months, money market fund net redemptions totalled CAD6.03bn.

Balanced fund net sales totalled CAD2.51bn in November, up compared to last month’s total of CAD2.16bn.

Bond fund net sales totalled CAD1.59bn in November; compared to CAD1.48bn for October 2012.

Equity fund net redemptions totalled CAD1.40bn in November, compared to net redemptions of CAD1.36bn in October 2012.

Fund of fund AUM were CAD199.9bn and net sales totalled CAD2.34bn for November 2012. Standalone funds’ AUM were CAD637.7bn and had net sales of CAD310.1m for November 2012.

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