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Mutual fund industry net sales reach $5.76 billion in March

By The IJ Staff | April 24 2017 01:30PM

Photo : Freepik

Mutual fund industry net sales hit $5.76 billion in March 2017, and year-to-date net sales were $18.97 billion, according to the Investment Funds Institute of Canada’s monthly statistics report released April 21.

In March, long-term funds’ net sales totalled $5.29 billion and net sales of money markets funds totalled $472 million. This is an increase compared to March 2016 when net sales stood at $4.54 billion.

Assets under management reached $1.39 trillion

Total assets under management (AUM) for the industry reached $1.39 trillion in March 2017 for an increase of $16 billion, or 1.2 per cent, since February.

Balanced funds net sales amounted to $2.81 billion in March and net sales for bond funds reached $1.70 billion. Equity funds saw $0.57 billion in net sales during the month of March. 

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