Mutual fund and exchange-traded fund (ETF)
assets and sales
TORONTO, June 24,
2024 /CNW/ - The Investment Funds Institute of
Canada (IFIC) today announced
investment fund net sales and net assets for May 2024.
Mutual fund assets totalled $2.058
trillion at the end of May, up by $44.4 billion or 2.2 per cent since April. Mutual
fund net redemptions were $1.8
billion in May.
ETF assets totalled $429.2 billion
at the end of May, up by $15.6
billion or 3.8 per cent since April. ETF net sales were
$4.4 billion in May.
May insights
- Mutual fund total assets reached their second highest monthly
level ever (the highest level was in December 2021). The increase in assets was driven
by positive market performance.
- For mutual funds, bond funds saw the highest net sales at
$1.35 billion, while equity funds had
net redemptions of $920 million.
- Money market mutual fund net sales turned positive after three
consecutive months, with just over half of all money market funds
experiencing positive inflows. Despite this positive trend,
year-to-date net sales are 92 per cent lower than the same period
in 2023.
- Year-to-date ETF assets grew by $47.2
billion or 12.4 per cent, which is close to double the
growth in absolute terms compared to 2023.
- For ETFs, equity funds led with net sales of $2.8 billion, while bond funds also saw
substantial inflows of $1.3
billion.
Mutual fund net sales/net redemptions ($ millions) *
|
Asset
class
|
May
2024
|
Apr
2024
|
May
2023
|
YTD
2024
|
YTD
2023
|
|
Long-term
funds
|
|
|
|
|
|
|
Balanced
|
(3,334)
|
(3,499)
|
(3,807)
|
(14,907)
|
(17,258)
|
|
Equity
|
(920)
|
(14)
|
(2,173)
|
355
|
(7,245)
|
|
Bond
|
1,346
|
366
|
639
|
8,910
|
7,809
|
|
Specialty
|
623
|
720
|
295
|
3,310
|
1,750
|
|
Total long-term
funds
|
(2,285)
|
(2,428)
|
(5,047)
|
(2,332)
|
(14,944)
|
|
Total money market
funds
|
464
|
(281)
|
1,249
|
524
|
6,358
|
|
Total
|
(1,821)
|
(2,708)
|
(3,799)
|
(1,808)
|
(8,586)
|
Mutual fund net assets ($ billions) *
|
Asset
class
|
May
2024
|
Apr
2024
|
May
2023
|
Dec
2023
|
|
Long-term
funds
|
|
|
|
|
|
Balanced
|
934.3
|
917.5
|
889.5
|
904.4
|
|
Equity
|
786.5
|
764.8
|
675.8
|
714.4
|
|
Bond
|
252.3
|
248.0
|
234.2
|
242.3
|
|
Specialty
|
31.7
|
30.7
|
24.4
|
27.0
|
|
Total long-term
funds
|
2,004.8
|
1,961.0
|
1,823.9
|
1,888.1
|
|
Total money market
funds
|
52.7
|
52.1
|
41.5
|
51.0
|
|
Total
|
2,057.5
|
2,013.1
|
1,865.3
|
1,939.1
|
|
* See below
for important information about this data.
|
ETF net sales/net redemptions ($ millions) *
|
Asset
class
|
May
2024
|
Apr
2024
|
May
2023
|
YTD
2024
|
YTD
2023
|
|
Long-term
funds
|
|
|
|
|
|
|
Balanced
|
243
|
362
|
150
|
1,884
|
678
|
|
Equity
|
2,788
|
4,032
|
559
|
16,171
|
4,505
|
|
Bond
|
1,287
|
1,734
|
836
|
5,251
|
4,281
|
|
Specialty
|
22
|
82
|
(16)
|
(331)
|
851
|
|
Total long-term
funds
|
4,339
|
6,209
|
1,529
|
22,976
|
10,315
|
|
Total money market
funds
|
86
|
(747)
|
819
|
(467)
|
4,413
|
|
Total
|
4,425
|
5,462
|
2,348
|
22,509
|
14,728
|
ETF net assets ($ billions) *
|
Asset
class
|
May
2024
|
Apr
2024
|
May
2023
|
Dec
2023
|
|
Long-term
funds
|
|
|
|
|
|
Balanced
|
18.0
|
17.3
|
13.2
|
15.1
|
|
Equity
|
270.5
|
259.4
|
208.4
|
232.5
|
|
Bond
|
98.4
|
95.9
|
84.8
|
94.6
|
|
Specialty
|
17.3
|
16.1
|
11.5
|
14.4
|
|
Total long-term
funds
|
404.2
|
388.7
|
317.9
|
356.6
|
|
Total money market
funds
|
25.0
|
24.9
|
20.6
|
25.3
|
|
Total
|
429.2
|
413.5
|
338.5
|
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
|
|
1.
|
Mutual fund data is
adjusted to remove double counting arising from mutual funds that
invest in other mutual funds.
|
|
2.
|
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.
|
|
3.
|
The balanced funds
category includes funds that invest directly in a mix of stocks and
bonds or obtain exposure through investing in other
funds.
|
|
4.
|
Mutual fund data
reflects the investment activity of Canadian retail
investors.
|
|
5.
|
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
For more information
Christine Harminc
Senior Manager, Communications and Public Affairs
charminc@ific.ca
416-309-2313
SOURCE The Investment Funds Institute of Canada