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Cautious investors flock to balanced, bond funds
FUNDS REPORTERCanadian investors flocked to balanced and bond funds in October as rallying North American stocks markets lost steam, and fell into the red.Balanced funds attracted nearly $1.6-billion in net sales last month, while bond funds brought in $1.1-billion, according to figures released yesterday by the Investment Funds Institute of Canada (IFIC).
AUGUST MUTUAL FUND SALES
Cash exits money marketsThe Canadian mutual fund industry suffered from $463-million in net outflows in August as investors jettisoned money market investments to seek better returns elsewhere.This was the third consecutive month for net redemptions as investors stashed cash mainly into long-term bond and balanced funds or higher-interest saving accounts in the same financial institutions, according to a report released yesterday by the Investment Funds Institute of Canada (IFIC). Money market funds often attract institutional investors who may be switching their cash into higher-interest-bearing investments, said Dennis Yanchus, IFIC's manager of statistics.
Money market funds lose favour as investors buy for the long term
Canadian investors redeemed money market funds in favour of long-term investments in July, but they were mainly heading towards conservative bond and balanced categories despite strong market rallies.
Money market funds lose favour as investors buy for the long term
Canadian investors redeemed money market funds in favour of long-term investments in July, but they were mainly heading towards conservative bond and balanced categories despite strong market rallies.
Money market funds lose favour as investors buy for the long term
FUNDS REPORTERCanadian investors redeemed money market funds in favour of long-term investments in July, but they were mainly heading towards conservative bond and balanced categories despite strong market rallies.
Mutual fund investors still treading cautiously
FUNDS REPORTER Investors largely abandoned money market investments in May, instead throwing new cash mainly into long-term bond and balanced funds. Canada's fund industry attracted $939.2-million in net sales last month - up from an earlier estimate of $747-million, according to figures yesterday from the Investment Funds Institute of Canada.
Morningstar's revamp aids investors
In the United States, where more funds are bought directly rather than through advisers, one of the most popular selection criteria has been to rely on the star rating system offered by Morningstar Inc. In fact, several studies have shown that funds rated with four or five stars by Morningstar regularly receive a disproportionate chunk of new investor dollars.
