Canada's international transactions in securities see net outflow of $11.2B in June

By Ovunc Kutlu

ISTANBUL (AA) - International transactions in securities generated a net outflow of funds of $11.2 billion from the Canadian economy in June, the country's statistical agency said Friday.

The result follows two monthly inflows in April and May, which totaled $57.8 billion.

Canadian investment in foreign securities reached $16.4 billion in June, led by acquisitions of US equity securities with $12.5 billion, said Statistics Canada.

Foreign acquisitions of Canadian securities, meanwhile, slowed to $5.2 billion in June, it added. "Canadian pension funds largely contributed to the investment activity."

Canadian investors acquired $6.4 billion of foreign debt securities in June, mainly money market instruments and US corporate bonds, with $2.4 billion each.