Canadians Pull $85 Million from ETFs in October

By Andrew Rickard | November 12 2014 09:26AM

According to data collected by ETFGI, a British research firm that specializes in exchange traded funds (ETFs) and exchange traded products (ETPs), Canadian funds in this category saw net outflows of $85 million (measured in US dollars) during October. However, Canadian exchange traded funds and products were still up year-to-date with net inflows of $6 billion (USD).

BMO Asset Management gathered the most assets in October, with net ETF/ETP inflows of $759 million (USD), followed by Mirae Horizons and Vanguard with $163 million (USD) and $156 million (USD) respectively. Year-to-date, ETFGI says that BMO Asset Management is also the largest gainer, having accumulated net assets of $3.9 billion (USD), followed by Vanguard with $1.1 billion (USD) and First Asset with $487 million (USD).

iShares remains the largest ETF/ETP player in Canada with $38.4 billion in assets under management, an amount that represents a 59.2% share of the market, followed by BMO Asset Management with $15.8 billion (USD) and a 24.3% market share. ETFGI points out that the remaining seven ETF/ETP providers in Canada each have less than a 7% share of the market.