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Higher sales of mutual funds

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Writing

August 23, 2018 09:30

Photo : Freepik

The combined assets of the canadian mutual funds amounted to 1.53 trillion dollars at the end of the month of July, according to a report from theinvestment funds Institute of Canada (IFIC). It is a growth of 13.1 billion dollars (G$), or 0.9 %, compared to the end of the month of June, 2018.

Net sales were $ 772 million of dollars (M$) for the month. The balance sheet since the beginning of the year, reported sales of 15.2 G$.

Balanced funds stimulate the sector

Net sales of balanced funds have helped to stimulate the sector, the latter located at 519 to$ Million in July and net sales of$ 7.4 billion since January. The fund of shares and bonds have also increased.

However, the net sales of balanced funds since the beginning of the year were lower than 63.9 % last year. Since the beginning of the year, the net sales of equity funds declined by 8.4 % compared to the same period last year and the net sales of bond funds since the beginning of the year decreased from 91.8 % compared to last year.

The net redemptions of money market funds have reached 169 M$ in July 2018 and the net sales since the beginning of the year have reached 732 Million$. However, net sales of money market funds since the beginning of the year increased by 301 % relative to the year-to-date of 2017.

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