The Investment Funds Institute of Canada (IFIC) has shared May 2023 figures for net fund sales and assets for mutual funds and exchange-traded funds (ETF). The numbers show a general slump in mutual funds net assets, mutual fund redemptions, a rise in ETF net sales and a slight decline in ETF net assets, month-over-month.
Mutual funds' assets totalled $1.865 trillion at the end of May 2023, dropping from $1.904 trillion in the previous month. Assets decreased by $39.6-billion or 2.1 per cent compared to April 2023.
IFIC numbers show a slight drop in this year’s assets in contrast to May 2022 mutual funds' assets numbers, which stood at $1.895 trillion.
Further, mutual funds recorded net redemptions of $3.812 billion in May 2023, down from net redemptions of $4.599 billion in April 2023. In May 2022, net redemptions were $6.364 billion.
ETF assets, meanwhile, added up to $337.2 billion at the end of May 2023, showing a decrease of $6.9-billion or two per cent when compared with April 2023. In May 2022, ETF net assets were $310.9 billion.
ETF recorded net sales of $2.355 billion in May 2023, up moderately from $2.093 billion in April 2023.