ETF sales trail mutual funds in May

Mutual fund sales outpaced ETF sales in May, according to data from the Investment Funds Institute of Canada (IFIC).

Last month, mutual funds had net sales of $8.4 billion, led by balanced funds ($4.2 billion), equities funds ($3.3 billion) and bond funds ($1.1 billion).

Specialty mutual funds recorded $345 million in net sales, and there was an outflow of $561 million from money market mutual funds, IFIC reported.

Although ETF sales lagged mutual funds, ETFs still had a strong month, recording $7.6 billion in net sales.

Equities ETFs had the most sales at $3.8 billion, followed by specialty funds ($1.9 billion), bond funds ($1.8 billion) and balanced funds ($284 million). Money market ETFs recorded an outflow of $177 million.

At the end of May, assets invested in Canadian mutual funds totalled $1.9 trillion, a 0.7% increase from April. Assets invested in Canadian ETFs totalled $297.4 billion, up 3.3% from April.

Staff

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