Massive Sell-off In October
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After almost a month, I have finally settled down in the new city, Calgary. The stock market has been absolutely voliatle during the last few months. We just hit a record high sell off in October. A record $8.45 billion have been pulled from Canadian mutual fund market in October. September held the previous record for net outflows with $4.5 billion. The net outflows/net redemptions in October were reported as follows:
RBC Asset Management Inc. - nearly $2 billion
CIBC Asset Management - nearly $1.4 billion
TD Asset Management - $1.1 billion
IGM Financial (includes Investors Group and Mackenzie Financial) - $489 million
CI Financial Income Fund - $340 million
AGF Management - $232 million
DundeeWealth Management - $171 million
This is definitely a record month of fear. Personally, I am still hanging on to my own investment strategy, well diversified and invest in ETFs.
- Posted in: Mutual Fund, stock
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[...] Invesco Trimark - $537 millionFranklin Templeton Investments - $465 million. This is definitely a record month of fear. Personally, I am stilling hanging on to my own investment strategy, well diversified and invest in ETFs Read more [...]