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
[email protected]
416-309-2313
SOURCE The Investment Funds Institute of Canada
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