The Investment Funds Institute of Canada (IFIC) published its net fund sales and net asset figures for both mutual funds and exchange-traded funds (ETFs) for February 2023, showing both fund types recording net sales during the month.

Mutual fund assets totalled $1.868-trillion at the end of February, a decrease of $19-billion or one per cent when compared to January’s asset figures. Net assets were just under $1.887-trillion in January 2023 and just over $1.997-trillion in February 2022.

Mutual funds recorded net sales of $3.258-billion during the month, up considerably from $158-million in January but a considerable drop relative to February 2022 when net sales were $9.963-billion. Year to date in 2023, net sales were just $3.416-billion, compared to $17.15-billion reported during the same period in 2022.

ETF assets, meanwhile, totalled $327.9-billion, a decrease of $1-billion or just 0.3 per cent from the $328.9-billion reported in January 2023, but up when compared to February 2022 when net assets were $317.1-billion.

Net sales of ETFs in February 2023 reached $4.1-billion, also up considerably relative to January 2023 when investors redeemed $491-million. February 2023 sales were comparable to February 2022 when net sales were $4.021-billion. Year-to-date, however, net sales were just $3.609-billion, down from $8.6-billion sold during the same period in 2022.