Mutual fund and exchange-traded fund (ETF)
assets and sales
TORONTO, May 22, 2024
/CNW/ - The Investment Funds Institute of Canada (IFIC) today announced investment fund
net sales and net assets for April
2024.
Mutual fund assets totalled $2.013
trillion at the end of April, down by $42.0 billion or 2.0 per cent since March. Mutual
fund net redemptions were $2.7
billion in April.
ETF assets totalled $413.6 billion at the end of April, down by
$3.6 billion or 0.9 per cent since
March. ETF net sales were $5.5
billion in April.
April insights
- Mutual fund and ETF assets declined after increasing for five
consecutive months.
- Specialty funds were the largest source of mutual fund inflows.
More than half of these inflows were directed towards
non-traditional fixed-income funds designed to provide yield, as
well as alternative credit funds. Bond funds were the only other
asset class with positive net sales.
- For ETFs, all major asset classes saw positive net inflows,
except for money market funds, which experienced net redemptions in
three of the previous five months.
- For ETFs, inflows remained concentrated in equity funds, with
just over half going to U.S. equity funds. Year to date, equity
funds accounted for 74 per cent of total net sales.
Mutual fund net sales/net redemptions ($ millions)*
Asset
class
|
Apr
2024
|
Mar
2024
|
Apr
2023
|
YTD
2024
|
YTD
2023
|
Long-term
funds
|
|
|
|
|
|
Balanced
|
(3,498)
|
(2,727)
|
(3,940)
|
(11,572)
|
(13,452)
|
Equity
|
(15)
|
792
|
(2,777)
|
1,273
|
(5,033)
|
Bond
|
366
|
1,688
|
858
|
7,564
|
7,165
|
Specialty
|
720
|
626
|
284
|
2,687
|
1,453
|
Total long-term
funds
|
(2,428)
|
379
|
(5,574)
|
(49)
|
(9,866)
|
Total money market
funds
|
(281)
|
(107)
|
992
|
60
|
5,109
|
Total
|
(2,708)
|
272
|
(4,582)
|
11
|
(4,757)
|
Mutual fund net assets ($ billions)*
Asset
class
|
Apr
2024
|
Mar
2024
|
Apr
2023
|
Dec
2023
|
Long-term
funds
|
|
|
|
|
Balanced
|
916.9
|
938.3
|
912.1
|
904.4
|
Equity
|
765.5
|
784.2
|
692.6
|
714.4
|
Bond
|
248.0
|
250.4
|
235.9
|
242.3
|
Specialty
|
30.7
|
30.1
|
24.2
|
27.0
|
Total long-term
funds
|
1,961.0
|
2,003.0
|
1,864.8
|
1,888.2
|
Total money market
funds
|
52.1
|
52.1
|
40.1
|
51.0
|
Total
|
2,013.1
|
2,055.1
|
1,905.0
|
1,939.2
|
* See below
for important information about this data.
|
ETF net sales/net redemptions ($ millions)*
Asset
class
|
Apr
2024
|
Mar
2024
|
Apr
2023
|
YTD
2024
|
YTD
2023
|
Long-term
funds
|
|
|
|
|
|
Balanced
|
362
|
427
|
141
|
1,642
|
528
|
Equity
|
4,032
|
2,935
|
(355)
|
13,384
|
3,946
|
Bond
|
1,734
|
701
|
860
|
3,964
|
3,445
|
Specialty
|
82
|
(109)
|
252
|
(352)
|
867
|
Total long-term
funds
|
6,209
|
3,953
|
898
|
18,637
|
8,786
|
Total money market
funds
|
(747)
|
1
|
1,153
|
(553)
|
3,594
|
Total
|
5,462
|
3,954
|
2,051
|
18,085
|
12,380
|
ETF net assets ($ billions)*
Asset
class
|
Apr
2024
|
Mar
2024
|
Apr
2023
|
Dec
2023
|
Long-term
funds
|
|
|
|
|
Balanced
|
17.3
|
17.3
|
13.3
|
15.1
|
Equity
|
259.4
|
261.1
|
213.1
|
232.5
|
Bond
|
95.9
|
95.9
|
85.5
|
94.6
|
Specialty
|
16.1
|
17.2
|
12.2
|
14.4
|
Total long-term
funds
|
388.7
|
391.5
|
324.0
|
356.7
|
Total money market
funds
|
24.9
|
25.6
|
19.7
|
25.3
|
Total
|
413.6
|
417.1
|
343.8
|
382.0
|
* See below
for important information about data.
|
IFIC direct survey data (which accounts for approximately 87 per
cent of total mutual fund industry assets and approximately 80 per
cent of total ETF industry assets) is complemented by estimated
data to provide comprehensive industry totals.
IFIC makes every effort to verify the accuracy, currency,
and completeness of the information, however, IFIC does not
guarantee, warrant, represent or undertake that the information
provided is correct, accurate or current.
© The Investment Funds Institute of Canada. No reproduction or republication in
whole or in part is permitted without permission.
* Important information about investment fund data
- Mutual fund data is adjusted to remove double counting arising
from mutual funds that invest in other mutual funds.
- Starting with January 2022 data,
ETF data is adjusted to remove double counting arising from
Canadian-listed ETFs that invest in units of other Canadian-listed
ETFs. Any references to IFIC ETF assets and sales figures prior to
2022 data should indicate that the data has not been adjusted for
ETF of ETF double counting.
- The balanced funds category includes funds that invest directly
in a mix of stocks and bonds or obtain exposure through investing
in other funds.
- Mutual fund data reflects the investment activity of Canadian
retail investors.
- ETF data reflects the investment activity of Canadian retail
and institutional investors.
About IFIC
The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC
brings together 150 organizations, including fund managers,
distributors and industry service organizations to foster a strong,
stable investment sector where investors can realize their
financial goals. By connecting Canada's savers to Canada's economy, our industry contributes
significantly to Canadian economic growth and job creation. Learn
more about IFIC
SOURCE The Investment Funds Institute of Canada