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Mutual Fund News

Canadians plunk $2.55-billion into funds

Canadians investors socked an estimated $2.55-billion into mutual funds in March - a drop of nearly 50 per cent from the same month a year ago, preliminary figures released by the Investment Funds Institute of Canada (IFIC) indicate. "Investors continue to focus on money market funds," IFIC spokeswoman Pat Dunwoody said in a statement. IFIC forecast that March sales came in between $2.3-billion and $2.8-billion. RBC Asset Management Inc. was the leader with $1.2-billion in net sales. AIM Funds Management Inc., which has suffered from several key fund manager departures, saw $652-million in net outflows. CI Financial Income Fund brought in $452-million in net sales, while Dynamic Mutual Funds Ltd. attracted $251-million.

© 2007 The Globe and Mail. All rights reserved.

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