Posted AT 2:32 PM EST on 17/11/08
Fund investors lock in U.S. gains
A portion of the record $8.4-billion in net withdrawals from mutual funds in October came from Canadian investors locking in their profits from U.S. money market funds, according to the Investment Funds Institute of Canada (IFIC).
The net redemptions in these foreign money market funds totalled more than $1.5-billion, and represented the highest outflows of any asset category, according to IFIC, which released its final October sales and redemption figures on Monday.
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