The Investment Funds Institute of Canada (IFIC) published its net fund sales and net asset figures for exchange-traded funds (ETFs) and mutual funds in Canada for April 2023.

The monthly report shows that mutual fund assets totalled $1.905-trillion, an increase of $22.2-billion or 1.2 per cent when compared to March 2023 when net assets were $1.883-trillion. Comparatively, in April 2022, net assets were $1.914-trillion.

In the most recent month, investors redeemed their mutual funds for a third month in a row, selling off more than $4.576-billion in April, an increase in the number of redemptions when compared to March 2023 – net redemptions that month were $3.402-billion. The number is also higher than $4.466-billion in net redemptions recorded in April 2022. Year-to-date, mutual funds remain in net redemption territory, with net redemptions of $4.582-billion in total at the end of April 2023. At the end of April 2022 net sales, year-to-date were $13.81-billion.

ETF assets, meanwhile, totalled $344.1-billion at the end of April 2023, an increase of $6.9-billion or 2.1 per cent over March 2023 figures when net assets were $337.1-billion. Net sales were $2.087-billion, down from $6.842-billion in March 2023 but up considerably when compared to April 2022 net sales of just $962-million. Year-to-date ETF sales are lower than 2022 figures, but still came in at $12.538-billion by the end of April 2023, down from $14.142-billion at the end of April 2022.