The Investment Funds Institute of Canada (IFIC) has released net fund sales and net asset figures for mutual funds and exchange-traded funds (ETFs) in Canada for July 2022. Mutual funds recorded net redemptions during the month, while ETFs eked out a month of net sales, but these still came in considerably lower relative to year ago numbers.
Mutual fund assets totalled $1.864-trillion at the end of July 2022, a 4.3 per cent increase of $76.2-billion compared to June 2022 when net assets were $1.788-trillion. The number, however, is still a drop relative to July 2021 when net assets were $1.987-trillion.
Mutual fund consumers redeemed $4.546-billion during the month, a pullback from the $10.429-billion in net redemptions reported in June 2022, but still down notably from $8.885-billion in net sales reported in July 2021. Year-to-date, mutual funds remained in net redemption territory, with $8.073-billion in net redemptions reported for the year. Comparatively speaking, by the same time last year mutual funds had recorded net sales of $81.419-billion.
ETFs had a better month, reporting $1.505-billion in net sales in July, up from $670-million in net redemptions reported the previous month. The number was still lower relative to July 2021 figures when ETFs sold $3.009-billion. Year-to-date ETFs were in positive territory, selling $17.544-billion. Year-to-date a year ago, ETFs had sold $35.68-billion by the end of July.
Overall, ETF assets were $303.7-billion at the end of July 2022, an increase of $14.8-billion or 5.1 per cent compared to June 2022 figures when net assets were $288.9-billion. This remains lower than July 2021 numbers when net assets were $313.6-billion.
