Canadians Bought C$14.13 Billion of Foreign Securities in November

By Robb M. Stewart

OTTAWA--Canadians made the biggest investment in foreign securities in more than half a year in November, while foreigners continued to add Canadian securities.

Nonresident investors in November purchased a net 12.76 billion Canadian dollars, the equivalent of US$9.52 billion, in Canadian securities, Statistics Canada said Tuesday. The investments marked an increase from purchases worth C$9.09 billion the month before and followed a substantial sell-down of C$23.12 billion in September.

For the month, Canadian investors bought C$14.13 billion in foreign securities, the largest investment since April.

The agency said Canadians resumed purchases of foreign shares, including adding bought about C$5.8 billion worth of U.S. shares to portfolios. Acquisitions of foreign debt securities by Canadians slowed in November, following sizeable investments the previous two months, including the addition by Canadians of about C$3.5 billion in U.S. government bonds after two months of investment that totalled C$15.5 billion, the agency said.

As a result, international transactions generated a net outflow of funds from the Canadian economy of roughly C$1.4 billion in November.

The monthly international securities report covers a portfolio of transactions in equity and investment fund shares, bonds and money market instruments for both Canadian and foreign issues. The activity excludes transactions in equity and debt instruments between affiliated enterprises.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

01-17-23 0900ET