Net sales and assets under management (AUM) of Canada’s mutual funds industry ticked up in December compared with year earlier, but net sales for all of 2016 were down compared with 2015, according to new data from the Toronto-based Investment Funds Institute of Canada (IFIC) released on Thursday.
Net sales of mutual funds in December 2016 reached $1.81 billion compared with $1.27 billion in December 2015. In addition, total AUM of mutual funds climbed to $1.34 billion, an 8.7% increase over the $107.7 billion in AUM in December 2015. However, net sales for 2016 fell to $30.07 billion from $57.91 billion in 2015.
Net sales of long-term funds were $1.67 billion in December 2016 vs $1.07 billion in December 2015.
When divided by asset class, balanced funds achieved the highest level of net sales in December, with $1.7 billion, although that was slightly lower than the $1.76 billion sold in December 2015.
Bond funds saw net sales of $0.65 billion last month, an improvement over the net redemptions of $0.68 billion in December 2015. Finally, equity funds saw net redemptions of $0.54 billion in December 2016 compared with net redemptions of $0.04 billion in December 2015.
Monthly sales data are compiled from IFIC and other sources. Toronto-based Strategic Insight provides aggregate totals.
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