Posted AT 2:09 PM EST on 17/11/08
Investors flee mutual funds
TORONTO — The Canadian mutual fund industry suffered its worst month ever in October with $8.4-billion in net redemptions, and total industry assets ended the month 19.5 per cent below their year-ago level.
Last month's cash-out deepened the investment fund industry's September slump of $4.5-billion in net redemptions, which was the previous worst month on record.
The $8.4-billion October catastrophe compared with net sales of $2.
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