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Mutual fund net assets up 2.41 per cent in September

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The Investment Funds Institute of Canada estimates that net assets of the mutual fund industry for the month of September will be between CAD578.8bn and CAD583.8bn, up approximately 2.41 per cent from the previous month’s total of CAD567.6bn.

Net redemptions of mutual funds for the month of September are estimated to be between -CAD475.9m and -¬CAD975.9m.

“Since April, we have seen strong long-term fund sales coupled with weak money market fund sales in what we see as investors cautiously moving off the sidelines,” says Pat Dunwoody, vice president of member services and communications with IFIC. “Investors have been accessing equity markets predominantly through balanced fund options this year and we expect to see that trend continue when we see the final data on the 15th.”

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