Home Breadcrumb caret Industry News Breadcrumb caret Industry May marks another strong month: IFIC The month of May appears to have seen strong mutual fund sales, with net inflows of between $3.2 billion to $3.7 billion, according to preliminary estimates from IFIC. “Mutual fund net sales posted their best May since May 1996 and marked the thirty-first straight month of positive net sales,” said Pat Dunwoody, vice-president, member services […] By Steven Lamb | June 5, 2007 | Last updated on June 5, 2007 1 min read The month of May appears to have seen strong mutual fund sales, with net inflows of between $3.2 billion to $3.7 billion, according to preliminary estimates from IFIC. “Mutual fund net sales posted their best May since May 1996 and marked the thirty-first straight month of positive net sales,” said Pat Dunwoody, vice-president, member services and communications. “Since May 2003 assets under management have grown an average of 16.3% per year with total growth in AUM of 83.2% over the period.” Net assets held in Canadian mutual funds are estimated at between $707.9 billion and $712.9 billion, an increase of about 1.5% over the prior month. Some fund companies have already released sales data for the month. RBC appears set to maintain its dominance for another month, reporting net long-term fund sales of $514 million, with an additional $67 million flowing into money market funds. TD Asset Management reported a strong month as well, with net sales topping $318 million. AGF Management reported last month to be its second best May in its 50-year history in terms of net sales, which topped $268.6 million. Dynamic posted estimated net sales of $221 million, followed closely by Desjardins, with $216 million split between its two divisions. CI Investments, which does not report sales data to IFIC, announced $293 million in net sales for the month, on gross sales of $1.1 billion. Filed by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com (06/05/07) Steven Lamb Save Stroke 1 Print Group 8 Share LI logo