TORONTO - Net sales of mutual funds in August totalled $807.2 million compared with $2.29 billion a year ago, according to the Investment Funds Institute of Canada.
Net sales of long-term funds totalled $929.1 million compared with $2.58 billion a year ago while net redemptions of short-term funds totalled $121.9 million compared with net redemptions of $297.5 million a year ago.
The results for August included net equity fund sales of $473.2 million, $1.64 billion in balanced fund sales, $224.2 million in speciality funds and net redemptions of bond funds totalling nearly $1.41 billion.
That compared with net redemptions of equity funds totalling nearly $1.16 billion and net sales of $1.64 billion in balanced funds, $1.68 billion in bond funds and $423.6 million in specialty funds in August 2012.
Assets under management were $919.8 billion compared with $924.4 billion in July and $811.7 billion a year ago.
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