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
Canadian and foreign common shares funds, according to Globe and Mail data, suffered the most. According to the IFICs 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.
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The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
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Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.
