For the second straight month, Canadian mutual funds trudged through a month of outflows, an industry report shows.

An October 2004 estimate by the Investment Funds Institute of Canada showed that $50 million in Canadian dollars or $41.3 million in American dollars, was pulled out of the country’s funds. New net sales, the report showed, could range anywhere from negative $250 million Canadian ($206.3 million American) to positive $150 million Canadian ($123.8 million American).

In September, outflows in Canadian funds were $545 million Canadian ($449.7 million American), marking the first negative month in a year.

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