IFIC Monthly Investment Fund Statistics - August 2024

Mutual fund and exchange-traded fund (ETF) assets and sales

TORONTO, Sept. 20, 2024 /CNW/ - The Investment Funds Institute of Canada (IFIC) today announced investment fund net sales and net assets for August 2024.

Mutual fund assets totalled $2.145 trillion at the end of August, up by $7.7 billion or 0.4 per cent since July. Mutual fund net sales were $2.4 billion in August.

ETF assets totalled $464.0 billion at the end of August, up by $5.9 billion or 1.3 per cent since July. ETF net sales were $4.3 billion in August.

August insights

• Mutual fund net sales were positive for the second consecutive month.
• Year to date, mutual funds experienced inflows of $3.6 billion, compared to outflows of $23.2 billion over the same period last year.
• Money market funds experienced the largest single month of outflows since November 2021, largely the result of outflows from high-interest saving account funds.
• Year to date, ETFs experienced inflows of $41.6 billion, which is 82 per cent higher than inflows over the same period last year.

Mutual fund net sales/net redemptions ($ millions)*

Asset class	Aug 2024	Jul 2024	Aug 2023	YTD 2024	YTD 2023
Long-term funds
Balanced	(1,383)	(1,025)	(4,750)	(21,271)	(31,002)
Equity	1,093	2,088	(2,152)	1,212	(13,584)
Bond	2,538	3,307	(427)	16,339	8,591
Specialty	547	800	366	5,157	2,642
Total long-term funds	2,795	5,169	(6,963)	1,436	(33,353)
Total money market funds	(420)	31	1,302	2,194	10,142
Total	2,375	5,200	(5,661)	3,630	(23,211)

Mutual fund net assets ($ billions)* 

Asset class	Aug 2024	Jul 2024	Aug 2023	Dec 2023
Long-term funds
Balanced	964.3	962.9	893.6	904.3
Equity	823.5	821.3	701.3	714.4
Bond	268.7	264.7	234.5	242.3
Specialty	34.1	33.7	25.8	27.0
Total long-term funds	2,090.6	2,082.6	1,855.2	1,888.0
Total money market funds	54.4	54.8	45.7	50.7
Total	2,145.0	2,137.4	1,900.9	1,938.7

*	See below for important information about this data.

ETF net sales/net redemptions ($ millions)*

Asset class	Aug 2024	Jul 2024	Aug 2023	YTD 2024	YTD 2023
Long-term funds
Balanced	464	558	140	3,305	1,103
Equity	1,748	2,380	330	22,822	6,776
Bond	1,176	1,463	641	13,359	7,085
Specialty	991	254	(280)	1,288	1,047
Total long-term funds	4,378	4,655	832	40,775	16,011
Total money market funds	(94)	310	1,051	863	6,864
Total	4,285	4,965	1,883	41,638	22,875

ETF net assets ($ billions)* 

Asset class	Aug 2024	Jul 2024	Aug 2023	Dec 2023
Long-term funds
Balanced	20.2	19.6	13.9	15.1
Equity	290.5	286.6	219.7	232.5
Bond	109.2	107.7	86.3	94.6
Specialty	17.8	17.7	11.7	14.4
Total long-term funds	437.8	431.7	331.6	356.7
Total money market funds	26.3	26.4	23.1	25.3
Total	464.0	458.1	354.7	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

SOURCE The Investment Funds Institute of Canada

For more information, please contact: Christine Harminc, Senior Manager, Communications and Public Affairs, [email protected], 416-309-2313