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first_img imilian/123RF Canadian fund sales totalled $15.9B in January James Langton Share this article and your comments with peers on social media Related news Keywords Fund salesCompanies Investment Funds Institute of Canada RBC GAM reports drop in mutual fund AUM in March In December, long-term funds generated net sales of $1.1 billion and money market funds added another $340 million. For the full year, long-term funds recorded $44.4 billion in net sales and money markets had net redemptions of $188 million.In 2017, a turnaround in equity fund sales led the surge in overall industry net sales. For the full year, equity funds recorded $7 billion in positive net sales whereas, in 2016, the segment had $6 billion in net redemptions.Bond funds enjoyed a small uptick in sales for 2017, with full-year sales coming in at $10.1 billion, up from $9.3 billion in 2016. In addition, the specialty mutual fund category generated almost $2.6 billion in net sales during the year, up from $36.7 million in net redemptions in the previous year.The balanced category continues to account for the bulk of industry net sales at $24.7 billion in 2017. However, this was down from $27.5 billion in 2016.In December, equity fund sales dropped to just $86 million from $750 million in November; balanced funds recorded net sales of $1.2 billion, down from $1.3 billion in November; and bond funds had $363.7 million in net redemptions, an improvement from $609 million in net redemptions in the prior month.IFIC also reports that total mutual fund assets under management (AUM) finished the year at $1.48 trillion, up by 10.3% from a year earlier as the industry added $138.3 billion in assets. In December, industry AUM dipped by $ 6.7 billion, or 0.4%.Monthly sales data are compiled from IFIC and other sources. Aggregate totals are provided by Toronto-based Strategic Insight. ETF and mutual fund sales neck and neck in February Although mutual fund sales finished 2017 on a down note, sales for the year came in well ahead of the previous year’s total thanks to a sharp increase in equity mutual fund sales, according to the latest data from the Investment Funds Institute of Canada (IFIC).Total mutual fund sales for December were $1.4 billion, down from $1.7 billion in November and $1.8 billion in the same month in 2016. For the full year, mutual fund sales totalled $44.2 billion, up by 47% from the $30.1 billion total recorded in 2016. Facebook LinkedIn Twitterlast_img read more