The Investment Funds Institute of Canada (IFIC) released net sales and net asset figure for mutual funds and exchange-traded funds in Canada for the month of August 2022.

Mutual fund assets totalled $1.827-trillion at the end of August 2022 a decrease of $37.6-billion or two per cent when compared to July 2022 figures when mutual fund assets came in just under $1.865-trillion. Comparatively, mutual fund net assets sat at $2.033-trillion at the end of August 2021.

Net redemptions continued during the month. The industry reported more than $3.1-billion in net redemptions in August 2022, down slightly from the $4.5-billion in net redemptions reported in July. In August 2021 net sales were more than $9-billion. Year-to-date net redemptions were more than $10.3-billion. At the same time last year, year-to-date sales were over $90.4-billion.

Exchange traded funds (ETFs) fared better, reporting net sales of $1.475-billion in August 2022, down from $1.505-billion reported in July 2022. The number is also down considerably from August 2021 when net ETF sales were $5.026-billion. Year-to-date net sales were just over $19-billion at the end of August. In August 2021, net sales, year-to-date were more than $40.7-billion.

Net assets were $298.7-billion at the end of August 2022, a decrease of $5-billion or 1.6 per cent compared to July 2022 when net assets were $303.7-billion. The number is down considerably, year-over-year when compared to August 2021 figures when ETF net assets were $324.8-billion.