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.