Canadian mutual fund assets under management (AUM) increased 0.15% in July over the previous month, according to Investment Funds Institute of Canada, Reuters reports. Managed assets in the country’s mutual fund sector reached $807.9 billion in July from $806.33 billion at the end of June.

Mutual fund assets under management at the closing of July 2010 stood at $715.42 billion. The month-over-month hike constituted $577.72 million in net sales along with nearly $2.44 billion in asset growth in long-term mutual funds.

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