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Canadian mutual funds AUM tops CAD1.08tn

Assets under management (AUM) in the Canadian mutual funds industry reached CAD1.08 trillion in May, according to figures realised by the Investment Funds Institute of Canada (IFIC).

Year-to-date, industry AUM increased by CAD82.9 billion or 8.3 per cent.
Net sales for the mutual funds industry totalled CAD5.01 billion.
Net sales of long-term funds were CAD5.34 billion and net redemptions of money market funds were CAD334.5 million.

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