Canadian mutual fund industry has positive May, assets up 2.5% this year

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TORONTO - Canadians added about $1.5 billion to their mutual fund holdings in May, according to a monthly report by the Investment Funds Institute of Canada.

It says Canada's mutual fund industry was managing about $789.1 billion at the end of the month, up $19.4 billion or 2.5 per cent since Jan. 1.

IFIC's director of policy and research, Jon Cockerline, says that net sales of long-term funds totalled $1.75 billion.

That was partly offset by $200.8 million that was taken out of money-market funds, which focus on short-term debt securities.

Organizations: Investment Funds Institute of Canada

Geographic location: TORONTO, Canada

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