The Investment Funds Institute of Canada (IFIC) reported its monthly investment fund net sales and net asset figures for June 2022, showing a notable decrease in mutual fund and exchange traded fund (ETF) assets during the month.
Mutual fund assets were $1.788 trillion at the end of June 2022, a decrease of $107-billion or 5.6 per cent when compared to May 2022 net asset figures when net assets were $1.895-trillion. Mutual funds recorded net redemptions of $10.429-billion in June. This is even higher than the $6.391-billion in net redemptions reported in May 2022. Relatively speaking, mutual funds enjoyed net sales of $12.876-billion in June 2021. Year-to-date mutual funds are in net redemption territory too, recording net redemptions of $3.527-billion overall by the end of June 2022. At the same time last year, year-to-date net sales were $72.534-billion.
ETFs sales also suffered during the month with net redemptions of $670-million in June 2022, compared to net sales of $2.568-billion in May 2022 and net sales of $5.046-billion in June 2021.
Year-to-date sales reached just over $16-billion to finish at $16.04-billion as of the end of June 2022, says IFIC. This is down from $32.671-billion reported during the same period in 2021. ETF assets totalled $288.9-billion at the end of June 2022, a decrease of $22-billion or 7.1 per cent when compared to May 2022 figures when assets were $310.9-billion.