November 17, 2014 / 1:43 PM / in 3 years

Foreigners cut back purchases of Canadian securities in Sept

OTTAWA (Reuters) - Foreign investment in Canadian securities fell by more than half to C$4.37 billion ($3.87 billion) in September from C$10.29 billion in August, with the focus on bonds and stocks, Statistics Canada said on Monday.

Canada remains an attractive destination for non-residents. Net investment for the year to date totaled C$57.09 billion, up from C$33.84 billion in the first nine months of 2013.

Foreign investment in Canadian stocks in September was C$4.74 billion, the highest monthly amount this year. Canadian stock prices fell in September while the Canadian dollar depreciated against the greenback by 2.7 U.S. cents.

Non-resident investors put C$4.58 billion into bonds, all of it in foreign currency denominated instruments, while withdrawing C$4.95 billion from the money market.

Canadian investors bought C$8.64 billion in foreign securities, targeting both debt and equity instruments. Investment in U.S. corporate bonds was the highest since March 2007.

Reporting by David Ljunggren; Editing by Nick Zieminski

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