Nearly $4 billion in mutual funds sold in September

The Investment Funds Institute of Canada (IFIC) says as of September 30 assets under management (AUM) for the mutual funds industry were $1.12 trillion. Year-to-date, industry assets under management increased by $117 billion, or 11.7%.

Net sales for the mutual funds industry totalled $3.66 billion. Net sales of long-term funds were $3.98 billion and net redemptions of money market funds were $317.1 million.

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