Fund sales cooled off in April

By Doug Watt | May 3, 2005 | Last updated on May 3, 2005
1 min read

(May 3, 2005) Mutual fund sales dropped sharply in April, following a strong RRSP season. According to preliminary estimates, sales will likely come in at around $600 million, IFIC says.

“Typically, investors take a break after buying their RRSPs,” says IFIC president Tom Hockin, who announced plans to retire from the job last week. “The month of April usually does not have the same kind of robust sales.” Net sales for the first three months of the year totalled $9.4 billion.

IFIC also estimates that industry estimates in April will be in the range of $509 to $514 billion.

Among fund companies, the big banks again led the way, with RBC reporting $222 million in sales and TD posting $218 million. Mackenzie had net sales of $100 million.

“Such encouraging results are due to investors’ ongoing preference for Mackenzie’s high quality, actively managed funds,” says Mackenzie Financial Services president David Feather. “Although we have always believed that talented managers can add substantial value over a passive index, since the market highs of 2000 the case for active management just keeps getting stronger.”

Laggards included AIC, off $312 million and Fidelity, down $107 million.

Filed by Doug Watt,,


Related News Stories

  • Fund sales topped $3 billion in March
  • Doug Watt