Mutual fund sales declined in September, according to data published Monday by the Investment Funds Institute of Canada (IFIC).
Total industry net sales came in at $2.2 billion in September, down from net sales of $2.45 billion in August, and down from $3.7 billion last September, the industry trade group says in a statement.
Long-term funds generated $2.22 billion worth of net sales in September, while money markets produced net redemptions of just $29.5 million.
Through the first nine months of 2015, long-term net sales were $50.2 billion, while money market funds had year-to-date net redemptions of $365.1 million.
Balanced funds continue to lead net sales in September, with $1.8 billion in the month, which was actually up from $1.65 billion in net sales for the category in August.
Bond funds finished the month in net redemptions. The bond category suffered $81.7 million in net redemptions, down from net sales of $238.3 million in August.
Equity funds managed net sales of $276.8 million in September, rebounding from net redemptions of $119.6 million in August.
Total mutual fund assets under management (AUM) for September were $1.19 trillion, down slightly from August. Total AUM slipped by $16.7 billion, or 1.4%, month over month.
Monthly sales data is compiled from IFIC and other sources. Aggregate totals are provided by Investor Economics Inc.