{"id":1157,"date":"2024-01-03T18:14:49","date_gmt":"2024-01-03T18:14:49","guid":{"rendered":"https:\/\/financeify.ca\/?p=1157"},"modified":"2024-01-03T18:14:49","modified_gmt":"2024-01-03T18:14:49","slug":"the-sale-of-investment-funds-will-continue-until-july","status":"publish","type":"post","link":"https:\/\/financeify.ca\/index.php\/2024\/01\/03\/the-sale-of-investment-funds-will-continue-until-july\/","title":{"rendered":"The sale of investment funds will continue until July"},"content":{"rendered":"\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n\n\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n\n\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n\n\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n\n\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n\n\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n\n\n<p><i>(08\/05\/04)<\/i><\/p>\n\n<\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\">\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><\/div><\/div>\n\n\n\n    \n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><\/div><\/div>\n<\/div>\r\n<br>\n<\/td>\n<\/tr>\n<tr bgcolor=\"f3f0f7\">\n<td bgcolor=\"#FFFFFF\">\n\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>(08\/05\/04)<\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:acf\/author {\"name\":\"acf\/author\",\"mode\":\"preview\"} \/--><\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:acf\/share-bar {\"name\":\"acf\/share-bar\",\"mode\":\"preview\"} \/-->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n\n    <!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group --><\/div>\r\n<br>\n\n<figure class=\"wp-block-table\">\n<table align=\"right\" class=\"unnamed1\" border=\"1\" bordercolor=\"00458D\" cellpadding=\"10\" width=\"158\" cellspacing=\"0\"><tbody>\n<tr bgcolor=\"330066\">\n<td height=\"31\" bgcolor=\"00458D\">\n\n<p><font face=\"Arial, Helvetica, sans-serif\" size=\"-1\" color=\"330066\"> \t <b><font color=\"#FFFFFF\" size=\"3\">R<\/font> \t <font color=\"#FFFFFF\" size=\"-2\">excited     \t <font size=\"3\">S<\/font>Tories<\/font><\/b><\/font><\/p>\n\n<\/td>\n<\/tr>\n<tr bgcolor=\"f3f0f7\">\n<td bgcolor=\"#FFFFFF\">\n<!-- wp:list-item -->\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>(08\/05\/04)<\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:acf\/author {\"name\":\"acf\/author\",\"mode\":\"preview\"} \/--><\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:acf\/share-bar {\"name\":\"acf\/share-bar\",\"mode\":\"preview\"} \/-->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n\n    <!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group --><\/div>\r\n<br>\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n\n\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n\n\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell in July as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n\n\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n\n\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n\n\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n\n\n<p><i>(08\/05\/04)<\/i><\/p>\n\n<\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\">\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><\/div><\/div>\n\n\n\n    \n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><\/div><\/div>\n<\/div><div class=\"wp-block-column\" style=\"flex-basis:66.66%\"><figure class=\"wp-block-post-featured-image\"><img decoding=\"async\" width=\"1920\" src=\"https:\/\/cdn.pixabay.com\/photo\/2015\/10\/25\/09\/27\/money-1005477_960_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" \/><\/figure>\n<figure class=\"wp-block-table\">\n<table align=\"left\"><tbody>\n<tr>\n<td><img decoding=\"async\" loading=\"lazy\" src=\"http:\/\/www.advisor.ca\/wp-content\/uploads\/2004\/08\/ificfundsalessign2.gif\" alt=\"\" title=\"\" width=\"51\" height=\"100\" class=\"alignnone size-full wp-image-35172\"><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n\n\n<p>(August 5, 2004) July was another month of positive mutual fund sales, despite declining fortunes in both the equity and fixed income markets, according to preliminary data from the Investment Fund Institute of Canada (IFIC). <\/p>\n\n\n<p>\u201cJuly net sales are expected to be approximately $550 million compared to net redemptions of $1.1 billion and net sales of $321 million in July 2002 and 2003,\u201d says Tom Hockin, president and CEO IFIC.  \u201cOf particular note is that the majority of July sales are expected to be in long-term funds.\u201d <\/p>\n\n\n<p>Despite relatively strong sales, net assets under management are expected to decline by 1.2% compared to June, to between $464 billion and $469 billion.  Total assets reached $476.1 billion in June. <\/p>\n\n\n<p>RBC Asset Management reported a month of net redemptions, with negative net sales of $12 million, according to early estimates.  This is the first month since April &#8211; and only the second time this year &#8211; that RBC did not report positive sales.  RBC remains by far in second place in terms of total assets, with $3.7 billion more than CIBC.<\/p>\n\n\n<p>Of course, the combined assets of IGM Financial, which includes Investors Group, Mackenzie Financial and Counsel Asset Management, with assets exceeding $78.3 billion, remained in first place.  Net sales were also impressive, topping the First Reporters chart with net sales of $151 million. <\/p>\n\n\n<p>According to early estimates, the second best seller will be Brandes Investment Partners with $137 million, followed by AIM Trimark Investments with net sales of $107 million. <\/p>\n\n\n<p>AIC appears to have had the highest level of repurchases on record to date, with an outflow of $144 million, closely followed by Fidelity, which recorded repurchases of $141 million. <\/p>\n\n\n<p>CI Mutual Funds, which have been struggling with redemptions recently, appear to have stemmed the outflows, with net sales estimated at $54 million.<\/p>\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\">\n<table align=\"right\" class=\"unnamed1\" border=\"1\" bordercolor=\"00458D\" cellpadding=\"10\" width=\"158\" cellspacing=\"0\"><tbody>\n<tr bgcolor=\"330066\">\n<td height=\"31\" bgcolor=\"00458D\">\n<!-- wp:paragraph -->\n<p><font face=\"Arial, Helvetica, sans-serif\" size=\"-1\" color=\"330066\"> \t <b><font color=\"#FFFFFF\" size=\"3\">R<\/font> \t <font color=\"#FFFFFF\" size=\"-2\">excited     \t <font size=\"3\">S<\/font>Tories<\/font><\/b><\/font><\/p>\n<!-- \/wp:paragraph -->\n<\/td>\n<\/tr>\n<tr bgcolor=\"f3f0f7\">\n<td bgcolor=\"#FFFFFF\">\n<!-- wp:list-item -->\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>(08\/05\/04)<\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:acf\/author {\"name\":\"acf\/author\",\"mode\":\"preview\"} \/--><\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:acf\/share-bar {\"name\":\"acf\/share-bar\",\"mode\":\"preview\"} \/-->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n\n    <!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group --><\/div>\r\n<br>\n<\/td>\n<\/tr>\n<tr bgcolor=\"f3f0f7\">\n<td bgcolor=\"#FFFFFF\">\n\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell in July as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>(08\/05\/04)<\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:acf\/author {\"name\":\"acf\/author\",\"mode\":\"preview\"} \/--><\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:acf\/share-bar {\"name\":\"acf\/share-bar\",\"mode\":\"preview\"} \/-->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n\n    <!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group --><\/div><div class=\"wp-block-column\" style=\"flex-basis:66.66%\"><!-- wp:post-featured-image \/--><!-- wp:table -->\n<figure class=\"wp-block-table\">\n<table align=\"left\"><tbody>\n<tr>\n<td><img decoding=\"async\" loading=\"lazy\" src=\"http:\/\/www.advisor.ca\/wp-content\/uploads\/2004\/08\/ificfundsalessign2.gif\" alt=\"\" title=\"\" width=\"51\" height=\"100\" class=\"alignnone size-full wp-image-35172\"><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>(August 5, 2004) July was another month of positive mutual fund sales, despite declining fortunes in both the equity and fixed income markets, according to preliminary data from the Investment Fund Institute of Canada (IFIC). <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cJuly net sales are expected to be approximately $550 million compared to net redemptions of $1.1 billion and net sales of $321 million in July 2002 and 2003,\u201d says Tom Hockin, president and CEO IFIC.  \u201cOf particular note is that the majority of July sales are expected to be in long-term funds.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Despite relatively strong sales, net assets under management are expected to decline by 1.2% compared to June, to between $464 billion and $469 billion.  Total assets reached $476.1 billion in June. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>RBC Asset Management reported a month of net redemptions, with negative net sales of $12 million, according to early estimates.  This is the first month since April &#8211; and only the second time this year &#8211; that RBC did not report positive sales.  RBC remains by far in second place in terms of total assets, with $3.7 billion more than CIBC.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Of course, the combined assets of IGM Financial, which includes Investors Group, Mackenzie Financial and Counsel Asset Management, with assets exceeding $78.3 billion, remained in first place.  Net sales were also impressive, topping the First Reporters chart with net sales of $151 million. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>According to early estimates, the second best seller will be Brandes Investment Partners with $137 million, followed by AIM Trimark Investments with net sales of $107 million. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>AIC appears to have had the highest level of repurchases on record to date, with an outflow of $144 million, closely followed by Fidelity, which recorded repurchases of $141 million. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>CI Mutual Funds, which have been struggling with redemptions recently, appear to have stemmed the outflows, with net sales estimated at $54 million.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:table -->\n<figure class=\"wp-block-table\">\n<table align=\"right\" class=\"unnamed1\" border=\"1\" bordercolor=\"00458D\" cellpadding=\"10\" width=\"158\" cellspacing=\"0\"><tbody>\n<tr bgcolor=\"330066\">\n<td height=\"31\" bgcolor=\"00458D\">\n<!-- wp:paragraph -->\n<p><font face=\"Arial, Helvetica, sans-serif\" size=\"-1\" color=\"330066\"> \t <b><font color=\"#FFFFFF\" size=\"3\">R<\/font> \t <font color=\"#FFFFFF\" size=\"-2\">excited     \t <font size=\"3\">S<\/font>Tories<\/font><\/b><\/font><\/p>\n<!-- \/wp:paragraph -->\n<\/td>\n<\/tr>\n<tr bgcolor=\"f3f0f7\">\n<td bgcolor=\"#FFFFFF\">\n<!-- wp:list-item -->\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>(08\/05\/04)<\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:acf\/author {\"name\":\"acf\/author\",\"mode\":\"preview\"} \/--><\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:acf\/share-bar {\"name\":\"acf\/share-bar\",\"mode\":\"preview\"} \/-->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n\n    <!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group --><\/div>\r\n<br><br><div class=\"wp-block-column is-layout-flow\" style=\"flex-basis:33.33%\">\n\n\n<div class=\"wp-block-group is-layout-constrained\"><div class=\"nua-ad nua-ad--vertical \" data-ad-unit-path=\"\/95740733\/advisor\/industry_news\/industry\/article\/\" data-ad-title=\"Advertisement\" data-ad-targeting=\"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\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-group is-layout-constrained\"><div class=\"nua-ad nua-ad--vertical \" data-ad-unit-path=\"\/95740733\/advisor\/industry_news\/industry\/article\/\" data-ad-title=\"Advertisement\" data-ad-targeting=\"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\"><\/div><\/div>\n\n\n\n    \n<div class=\"wp-block-group is-layout-constrained\"><div class=\"nua-ad nua-ad--vertical \" data-ad-unit-path=\"\/95740733\/advisor\/industry_news\/industry\/article\/\" data-ad-title=\"Advertisement\" data-ad-targeting=\"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\"><\/div><\/div>\n<\/div><div class=\"wp-block-column is-layout-flow\" style=\"flex-basis:66.66%\">\n<figure class=\"wp-block-table\">\n<table align=\"left\"><tbody>\n<tr>\n<td><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n\n\n<p>(August 5, 2004) July was another month of positive mutual fund sales, despite declining fortunes in both the equity and fixed income markets, according to preliminary data from the Investment Fund Institute of Canada (IFIC). <\/p>\n\n\n<p>\u201cJuly net sales are expected to be approximately $550 million compared to net redemptions of $1.1 billion and net sales of $321 million in July 2002 and 2003,\u201d says Tom Hockin, president and CEO IFIC.  \u201cOf particular note is that the majority of July sales are expected to be in long-term funds.\u201d <\/p>\n\n\n<p>Despite relatively strong sales, net assets under management are expected to decline by 1.2% compared to June, to between $464 billion and $469 billion.  Total assets reached $476.1 billion in June. <\/p>\n\n\n<p>RBC Asset Management reported a month of net redemptions, with negative net sales of $12 million, according to early estimates.  This is the first month since April &#8211; and only the second time this year &#8211; that RBC did not report positive sales.  RBC remains by far in second place in terms of total assets, with $3.7 billion more than CIBC.<\/p>\n\n\n<p>Of course, the combined assets of IGM Financial, which includes Investors Group, Mackenzie Financial and Counsel Asset Management, with assets exceeding $78.3 billion, remained in first place.  Net sales were also impressive, topping the First Reporters chart with net sales of $151 million. <\/p>\n\n\n<p>According to early estimates, the second best seller will be Brandes Investment Partners with $137 million, followed by AIM Trimark Investments with net sales of $107 million. <\/p>\n\n\n<p>AIC appears to have had the highest level of repurchases to date, with an outflow of $144 million, closely followed by Fidelity, which recorded repurchases of $141 million. <\/p>\n\n\n<p>CI Mutual Funds, which have been struggling with redemptions recently, appear to have stemmed the outflows, with net sales estimated at $54 million.<\/p>\n\n\n<figure class=\"wp-block-table\">\n<table align=\"right\" class=\"unnamed1\" border=\"1\" bordercolor=\"00458D\" cellpadding=\"10\" width=\"158\" cellspacing=\"0\"><tbody>\n<tr bgcolor=\"330066\">\n<td height=\"31\" bgcolor=\"00458D\">\n\n<p><font face=\"Arial, Helvetica, sans-serif\" size=\"-1\" color=\"330066\"> \t <b><font color=\"#FFFFFF\" size=\"3\">R<\/font> \t <font color=\"#FFFFFF\" size=\"-2\">excited     \t <font size=\"3\">S<\/font>Tories<\/font><\/b><\/font><\/p>\n\n<\/td>\n<\/tr>\n<tr bgcolor=\"f3f0f7\">\n<td bgcolor=\"#FFFFFF\">\n<!-- wp:list-item -->\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell in July as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>(08\/05\/04)<\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:acf\/author {\"name\":\"acf\/author\",\"mode\":\"preview\"} \/--><\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:acf\/share-bar {\"name\":\"acf\/share-bar\",\"mode\":\"preview\"} \/-->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n\n    <!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group --><\/div><div class=\"wp-block-column\" style=\"flex-basis:66.66%\"><!-- wp:post-featured-image \/--><!-- wp:table -->\n<figure class=\"wp-block-table\">\n<table align=\"left\"><tbody>\n<tr>\n<td><img decoding=\"async\" loading=\"lazy\" src=\"http:\/\/www.advisor.ca\/wp-content\/uploads\/2004\/08\/ificfundsalessign2.gif\" alt=\"\" title=\"\" width=\"51\" height=\"100\" class=\"alignnone size-full wp-image-35172\"><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>(August 5, 2004) July was another month of positive mutual fund sales, despite declining fortunes in both the equity and fixed income markets, according to preliminary data from the Investment Fund Institute of Canada (IFIC). <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cJuly net sales are expected to be approximately $550 million compared to net redemptions of $1.1 billion and net sales of $321 million in July 2002 and 2003,\u201d says Tom Hockin, president and CEO IFIC.  \u201cOf particular note is that the majority of July sales are expected to be in long-term funds.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Despite relatively strong sales, net assets under management are expected to decline by 1.2% compared to June, to between $464 billion and $469 billion.  Total assets reached $476.1 billion in June. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>RBC Asset Management reported a month of net redemptions, with negative net sales of $12 million, according to early estimates.  This is the first month since April &#8211; and only the second time this year &#8211; that RBC did not report positive sales.  RBC remains by far in second place in terms of total assets, with $3.7 billion more than CIBC.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Of course, the combined assets of IGM Financial, which includes Investors Group, Mackenzie Financial and Counsel Asset Management, with assets exceeding $78.3 billion, remained in first place.  Net sales were also impressive, topping the First Reporters chart with net sales of $151 million. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>According to early estimates, the second best seller will be Brandes Investment Partners with $137 million, followed by AIM Trimark Investments with net sales of $107 million. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>AIC appears to have had the highest level of repurchases on record to date, with an outflow of $144 million, closely followed by Fidelity, which recorded repurchases of $141 million. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>CI Mutual Funds, which have been struggling with redemptions recently, appear to have stemmed the outflows, with net sales estimated at $54 million.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:table -->\n<figure class=\"wp-block-table\">\n<table align=\"right\" class=\"unnamed1\" border=\"1\" bordercolor=\"00458D\" cellpadding=\"10\" width=\"158\" cellspacing=\"0\"><tbody>\n<tr bgcolor=\"330066\">\n<td height=\"31\" bgcolor=\"00458D\">\n<!-- wp:paragraph -->\n<p><font face=\"Arial, Helvetica, sans-serif\" size=\"-1\" color=\"330066\"> \t <b><font color=\"#FFFFFF\" size=\"3\">R<\/font> \t <font color=\"#FFFFFF\" size=\"-2\">excited     \t <font size=\"3\">S<\/font>Tories<\/font><\/b><\/font><\/p>\n<!-- \/wp:paragraph -->\n<\/td>\n<\/tr>\n<tr bgcolor=\"f3f0f7\">\n<td bgcolor=\"#FFFFFF\">\n<!-- wp:list-item -->\n<li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>Oil was the place to be in July<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>The bond market is hurting pensions<\/u><\/font> <\/font>\n<!-- wp:list-item -->\n<\/li><li><font face=\"Arial, Helvetica, sans-serif\"><font size=\"-2\"><u>June mutual fund sales bring a few surprises<\/u><\/font> <\/font>   <\/li><\/td>\n<\/tr>\n<\/tbody><\/table>\n<\/figure>\n<!-- \/wp:table -->\n<!-- wp:paragraph -->\n<p>\u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, hedge funds of $438 million and Assante Artisan portfolios of $963 million as at 30 June 2004,\u201d explains IFIC in a footnote to its early report. <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Mutual fund performance was less than stellar in July, according to Morningstar Canada, which yesterday reported that 22 of 32 indexes fell as equity markets fell.  The only safe haven that could be found was funds with exposure to the oil industry as oil prices reached an all-time high on supply concerns.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>Fixed income markets were not kind to investors at the beginning of the year, as speculative investors predicted higher interest rates by September at the latest.<\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p>\u201cSpeculation about impending interest rate increases impacted all markets this quarter, although bonds were hit the hardest,\u201d explained Don McDougall, Director, BENCHMARK, RBC Global Services.  \u201cThe TSX index was flat, but Canadian equity managers were able to outperform the market by 1.2% thanks to favorable stock selection in the materials, financials and industrials sectors.\u201d <\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>Submitted by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com <\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:paragraph -->\n<p><i>(08\/05\/04)<\/i><\/p>\n<!-- \/wp:paragraph -->\n<!-- wp:acf\/author {\"name\":\"acf\/author\",\"mode\":\"preview\"} \/--><\/div><div class=\"wp-block-column\" style=\"flex-basis:33.33%\"><!-- wp:acf\/share-bar {\"name\":\"acf\/share-bar\",\"mode\":\"preview\"} \/-->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n<!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group -->\n\n\n    <!-- wp:group {\"layout\":{\"type\":\"constrained\"}} -->\n<div class=\"wp-block-group\"><!-- wp:acf\/ad {\"name\":\"acf\/ad\",\"data\":{\"ad_format\":\"vertical\",\"_ad_format\":\"field_64bbe8905722f\",\"ad_custom_path\":\"\",\"_ad_custom_path\":\"field_ad_custom_path\"},\"mode\":\"preview\"} \/--><\/div>\n<!-- \/wp:group --><\/div>\r\n<br>","protected":false},"excerpt":{"rendered":"<p>Oil was the place to be in July R excited STories Oil was the place to be in July The bond market is hurting pensions June mutual fund sales bring a few surprises \u201cCI mutual fund assets were estimated by IFIC based on CI reported assets of $42.617 billion, excluding segregated funds of $1.4 billion, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[442,139,300,576,575],"class_list":{"0":"post-1157","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-seg-fund-investments","8":"tag-continue","9":"tag-funds","10":"tag-investment","11":"tag-july","12":"tag-sale"},"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - 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