Although mutual fund net sales were down considerably month-over-month, net assets continue to rise in October 2021, according to the most recent sales figures published by the Investment Funds Institute of Canada (IFIC).
IFIC says mutual fund assets totalled $2.030-trillion at the end of October 2021, an increase of $44.3-billion or 2.2 per cent when compared to September 2021 figures when net assets were $1.986-trillion.
The net asset increase occurred despite net sales of just over $5.6-billion for the month, down from more than $7.9-billion in net sales recorded in September 2021. Year-to-date however, net sales were $104.4-billion, a notable increase over year-to-date figures for the same period in 2020 when year-to-date sales had only reached $17.4-billion.
Exchange-traded funds meanwhile posted net sales of $4.4-billion in October 2021, up from more than $2.8-billion sold in September 2021. Year-to-date sales were $47.5 billion compared to almost $34.4-billion year-to-date sales figures recorded for the same period in 2020. Net assets also increased to $331.9-billion in October 2021, an increase of $13.5-billion or 4.3 per cent over September 2021 when net assets were $318.3-billion. The numbers are also up relative to the $232.1-billion in net assets held at the end of October 2020.
