Mutual fund assets in Canada totalled almost $1.983 trillion at the end of July, increasing by $33 billion, up 1.7 per cent compared to June, according to the Investment Funds Institute of Canada.
Net sales totalled $8.8 billion, down from June’s $12.59 billion. In July of last year, net sales were $3.4 billion.
Balanced funds were the biggest winners with $4.9 billion in monthly net sales, followed by bond funds at almost $2.1 billion and equity fund sales at $1.85 billion.
ETF assets totalled $313.6 billion at the end of July 2021. Assets increased by $6.7 billion or 2.2 per cent compared to June 2021.
The biggest sales were in equity ETFs, bringing in almost $2.5 billion in net sales. Bond funds were in net redemptions, a major change from the $1.2 billion in net sales in June.