In April, AUM for the mutual funds industry reached $1.07 trillion, says the Investment Funds Institute of Canada.
And year-to-date, industry AUM increased by $71.3 billion, or 7.1%.
Net sales for the mutual funds industry totalled $4.57 billion. Net sales of long-term funds were $4.76 billion and net redemptions of money market funds were $192.5 million.
Balanced funds’ net sales totaled $3.91 billion—compared to $5.65 billion in March. Bond funds’ net sales were $305.5 million—compared to $258.7 million in the previous month. And dealers sold $78.3 million in equity funds—compared to $1.5 billion a month earlier.