The Investment Funds Institute of Canada (IFIC) published its June net asset and net sales figures for mutual funds and exchange-traded funds (ETFs) sold in Canada last month.
The figures show mutual funds continue to record net redemptions, while ETFs continue to record net sales, month-over-month, year-over-year and year-to-date.
Mutual fund assets totaled $1.894 trillion at the end of June 2023, an increase of $29 billion or 1.6 per cent when compared to May 2023 when net assets were $1.865 trillion. Mutual funds recorded net redemptions of $4.249 billion in June, more than May when net redemptions were $3.799 billion.
The number is down, however, from June 2022 when net redemptions were $9.461 billion. Year-to-date, net redemptions reached $12.811 billion in 2023. Comparatively speaking, during the same period in 2022, net redemptions were $2.016 billion year-to-date.
ETF assets, meanwhile, totaled $348.4 billion at the end of June 2023, an increase of $9.6 billion or 2.8 per cent compared to May 2023 when net assets totaled $338.8 billion.
Net sales for the funds were $3.485 billion, up from $2.403 billion sold in May 2023 and up notably from the $670 million in net redemptions reported in June 2022.
Year-to-date ETF sales reached $18.432 billion at the end of last month, up from $16.04 billion reported year-to-date at the end of June 2022.
IFIC’s survey data accounts for approximately 85 per cent of total mutual fund industry assets and approximately 83 per cent of total ETF industry assets, complemented with estimated data to provide comprehensive figures.
