The Investment Funds Institute of Canada (IFIC) has released investment fund net sales and net asset figures for October 2022, showing that mutual fund redemptions continued during the month, while exchange-traded fund (ETF) assets and sales grew month-over-month.
Mutual fund assets totalled $1.796-trillion at the end of October 2022, an increase of $40.4-billion or 2.3 per cent compared to September 2022 when net assets were almost $1.756-trillion.
Mutual fund net redemptions were $8.021-billion during the month, a slight improvement over the net redemptions of $8.965-billion the previous month. Year-to-date net redemptions came in at $26.656-billion by the end of October. Comparatively speaking, by the end of October 2021, net sales were $104.664-billion.
ETFs fared better, reporting net sales of $3.351-billion in October 2022, up from $1.849-billion in September 2022, but off the $4.399-billion in net sales reported a year ago. Year-to-date net sales were $24.218-billion by the end of October. During the same period in 2021 net sales were $47.952-billion.
Overall ETF net assets were $300.5-billion at the end of the month, an increase of $12.9-billion or 4.5 per cent when compared to September 2022 when net assets were $287.6-billion, but down from the $331.9-billion reported in October 2021.