After 11 straight months of positive flows, Canadian mutual funds suffered outflows of $545.4 million in September, The Globe and Mail reports.

During the streak, investors poured $16 billion into mutual funds, according to The Investment Funds Institute of Canada. But in September, redemptions outpaced gross sales, roughly $9.4 billion to $8.9 billion.

Canadian and foreign common shares funds, according to Globe and Mail data, suffered the most. According to the IFIC’s Web site, assets under management in Canadian funds are now at $470.5 billion, up 0.5% from August and 15.1% from September 2003.

__
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.