Mutual funds in Canada recorded net sales of $12.6 billion in June, with assets increasing by $53.3 billion billion or a rise of 2.8 per cent compared to May, reported the Investment Funds Institute of Canada (IFIC). The June sales brought total mutual fund assets to $1.95 trillion at the end of June.
The biggest winners in June were balanced funds with net sales of just over $8 billion, almost twice the sales in May. Equity fund net sales stood at almost $3.8 billion, bonds at $1.1 billion and specialty fund sales in June were $565 million.All told, mutual fund net assets reached almost $1.95 trillion in June.
ETF assets up 3.2 per cent
Meanwile, ETF assets totalled $306.8 billion at the end of June. Assets increased by $9.4 billion or 3.2 per cent compared to May 2021. ETFs recorded net sales of $5 billion in June 2021.
Equity funds came in at the top with sales of just over $2.7 billion, down from almost $3.8 billion in May. Specialty ETF funds dropped from just over $1.9 billion in May to $665 million in June.