Record long-term fund inflows in November

Large balanced and bond fund inflows continue to carry the day for the Canadian mutual fund industry.

Canadian long-term mutual funds inflows accelerated to $3.8 billion in November. This marks the best November on record since 1995, and the 20th month of net sales in the past 22 months. Net sales of balanced funds exceeded $3.0 billion, which is also the best November on record, as well as the 20th consecutive month of inflows.

Strong balanced and bond fund inflows, combined with decelerating equity fund outflows, contributed to total mutual fund net sales of $2.3 billion. This makes for the best month since February, and best November since 2006.

Outflows also continued in domestic and global equity funds.

Balanced fund inflows were evenly split between domestic and global, and bond fund net sales saw contributions from both domestic and global markets.

Canadian money market funds marked their 20th consecutive month of net redemptions, with $1.5 billion in outflows in November. American money market funds recorded small net sales. As a result, total money market assets have now declined to $38.0 billion from their March 2009 peak of $74.2 billion.

Staff

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