Mutual funds industry increases AUM 16%

The mutual funds industry continues to experience gains in Assets Under Management (AUM).

“IFIC announces that for the month of November 2013, the AUM for the mutual fund industry was $986.4 billion,” says Jon Cockerline, IFIC’s Director, Policy & Research. “Year-to-date, industry AUM increased by $136.7 billion or 16.1%.”

Read: Mutual funds industry AUM increases 14%

Additional findings include:

• Balanced funds’ net sales in November 2013 totalled $3.63 billion compared to net sales of $2.10 billion last month. Year-to-date net sales for balanced funds totalled $37.3 billion compared to net sales of $25.5 billion for the same period last year.
• Bond funds’ net redemptions in November 2013 totalled $875.3 million compared to net redemptions of $1.51 billion last month. Year-to-date net redemptions for bond funds totalled $3.43 billion compared to net sales of $17.9 billion for the same period last year.
• Equity funds’ net sales in November 2013 totalled $1.30 billion compared to net sales of $1.20 billion last month. Year-to-date net sales for equity funds totalled $5.45 billion compared to net redemptions of $12.9 billion for the same period last year.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.