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Mutual Fund News

CI Fund redemptions total $116-million

CI Mutual Funds Inc. had net redemptions of $116-million in April, including $48-million in redemptions from money-market funds, parent CI Fund Management Inc. said yesterday. The sales results reflect the lower sales that have affected the overall fund industry, Toronto-based CI Fund said. Mutual and segregated fund assets rose by 3.1 per cent to $27.9-billion, the first monthly increase since November, 2002. Total fee-earning assets at April 30 were $32.4-billion, up 3.6 per cent from a month earlier.

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