Canadian mutual fund companies say that 2004 was their best year they've had in three years.
According to an article at Canada.com,
"The Canadian mutual fund industry confirmed Monday that its December net sales totaled $1.2 billion, the best month since April and concluding the biggest sales year since 2001.
The Investment Funds Institute of Canada said the industry's total assets under management grew 13.3 per cent during 2004 to $497.31 billion at Dec. 31."
"It is encouraging that investors continue to see mutual funds as an investment of choice in a well-structured, diversified portfolio," said Thomas Hockin, IFIC president and CEO.
According to IFIC, most of 2004's asset growth was powered by long-term funds (which exclude money market funds). Long-term fund net sales were $16.6 billion. "Solid sales increases occurred in dividend and income funds (up $8.1 billion), balanced funds (up $5.8 billion)"
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