The Investment Funds Institute of Canada (IFIC) has published investment fund net sales and net asset figures for mutual funds and exchange-traded funds (ETFs) in Canada for the month of May, showing mutual funds’ continued slide into net redemptions.
Mutual fund assets totalled $1.895-trillion at the end of May 2022, a decrease of $18.6-billion or one per cent, when compared to April 2022 figures when net assets were $1.914-trillion. The numbers are also lower relative to May 2021 numbers when net assets were close to $1.901-trillion.
Net redemptions in mutual funds rose sharply during the month. Investors redeemed $6.391-billion in May, higher than the $4.907-billion redeemed in April. Comparatively speaking, in May 2021 net sales were $8.426-billion. Year-to-date in 2022, fund sales reached just $6.902-billion as of the end of May. For the same period in 2021 fund sales were $59.659-billion year-to-date.
ETFs fared better, recording net sales of $2.568-billion in May 2022, up from the $961-million recorded in April 2022. In May 2021, ETF sales were notably higher, however, coming in at $7.596-billion.
Year-to-date, ETF sales sit at $16.71-billion at the end of May. Comparatively, year-to-date sales were $27.625-billion for the same period in 2021.
Net asset figures show the total held in ETFs increased by $9-million during the month, rising to $310.9-billion, up from $310-billion in April 2022. The number is also higher relative to May 2021 when net ETF assets were $297.4-billion.
