Mutual fund combined assets increases in May, says IFIC

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By The IJ Staff | June 26, 2018, 1:30 p.m.

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The combined assets of Canada’s mutual fund industry for May 2018 totalled $1.5 trillion, with assets increasing by $17.4 billion or 1.2% compared to April 2018, says The Investment Funds Institute of Canada (IFIC).

IFIC said the mutual fund industry also recorded net redemptions of $32 million and has year-to-date net sales of $14.9 billion.

Net redemptions in long-term funds were $211 million in May and year-to-date net sales were $14.5 billion. Year-to-date long-term fund net sales were 45.3% lower than year-to-date 2017.

Specifically:

Balanced fund net redemptions were $500 million in May and year-to-date net sales were $7.8 billion. Year-to-date balanced fund net sales were 48.5% lower than year-to-date, 2017.
Equity fund net sales were $236 million in May and year-to-date net sales were $4.3 billion. Year-to-date equity fund net sales were 7.1% higher than year-to-date, 2017.
Bond fund net redemptions were $223 million in May and year-to-date net sales were $1.1 billion. Year-to-date bond fund net sales were 81.3% lower than year-to-date, 2017.
Money market fund net sales were $179 million in May 2018 and year-to-date net sales were $461 million. Year-to-date money market fund net sales were 212% higher than year-to-date, 2017.