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Mackenzie Investments reports total assets under management and fund sales for October

  //business-finance.news-articles.net/content/200 .. under-management-and-fund-sales-for-october.html
  Published in Business and Finance on Monday, November 2nd 2009 at 14:40 GMT by Market Wire
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 ------------------------------------------------------------------------- Total Assets Under Management 2009 2008 (AUM) ($millions) October October % Change ------------------------------------------------------------------------- Mutual Funds: ------------------------------------------------------------------------- Long-term mutual funds $37,616 $35,030 7.4% ------------------------------------------------------------------------- Money market mutual funds 1,654 2,070 (20.1)% ------------------------------------------------------------------------- Total Mutual Funds AUM 39,270 37,100 5.8% ------------------------------------------------------------------------- Institutional, sub-advised and other 22,117 20,121 9.9% ------------------------------------------------------------------------- Total Assets Under Management $61,387 $57,221 7.3% ------------------------------------------------------------------------- ------------------------------------------------------------------------- Sales 2009 ($millions) October ------------------------------------------------------------------------- Net New Mutual Funds: Sales Redemptions Money(1) ------------------------------------------------------------------------- Long-term mutual funds(2) $357.4 $539.0 $(181.6) ------------------------------------------------------------------------- Money market mutual funds 79.9 95.8 (15.9) ------------------------------------------------------------------------- Total Mutual Fund Sales 437.3 634.8 (197.5) ------------------------------------------------------------------------- Other retail managed products 0.0 0.0 0.0 ------------------------------------------------------------------------- Total Fund Sales $437.3 $634.8 $(197.5) ------------------------------------------------------------------------- (1) Net New Money is defined as Sales less Redemptions and is consistent with the terminology used by IFIC (2) Sales and Redemptions of long-term mutual funds for the month were higher as a result of redemption and rebalance transactions by five institutional investors. The impact of the redemption and rebalance transactions was net redemptions of $66.2 million, which is reflected in the net new money total for the month.