Talk about slumps: June was a month to forget for mutual funds in Canada, as reeling domestic financial markets wreaked havoc on net sales, which totaled C$297 million (US$261.7 million), compared with C$1.8 billion (US$1.6 billion) a year earlier, according to the Investments Funds Institute of Canada. The good news is that assets under management at C$589 billion (US$527 billion) were only 0.5% below May figures and 11.8% ahead of June 2005. The top seller last month was the Canadian Income Balanced Fund with C$333 million (US$293.5 million), followed by Canadian Bond Fund with C$313 (US$275.8 million) in new investments.