TORONTO, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) today announced investment fund net sales and net assets for August 2023.
Mutual fund assets totalled $1.901 trillion at the end of August and assets decreased by $13.6 billion or 0.7 per cent since July. Mutual funds recorded net redemptions of $5.7 billion in August.
ETF assets totalled $355.0 billion at the end of August, and assets decreased by $1.8 billion or 0.5 per cent from July. ETFs recorded net sales of $1.9 billion in August.
Insights
- While mutual fund net assets declined in August, year-to-date assets have increased by $91.1 billion, or five per cent.
- ETF net assets also decreased in August, however overall assets increased by $41.3 billion, or 13.2 per cent year to date.
- Money market funds showed the highest net sales across all major asset classes in August for both mutual funds and ETFs, with the majority going into high-interest saving account (HISA) funds.
- In August, 33 per cent of mutual funds had positive net sales and 52 per cent of ETFs had positive net sales.
Mutual fund net sales/net redemptions ($ millions)*
| Asset class | Aug 2023 | July 2023 | Aug 2022 | YTD 2023 | YTD 2022 | |||||
| Long-term funds | ||||||||||
| Balanced | (4,750 | ) | (4,571 | ) | (2,421 | ) | (31,002 | ) | (9,318 | ) |
| Equity | (2,155 | ) | (1,848 | ) | (341 | ) | (13,550 | ) | 2,482 | |
| Bond | (513 | ) | 406 | (382 | ) | 8,485 | (6,936 | ) | ||
| Specialty | 366 | 262 | 90 | 2,639 | 1,214 | |||||
| Total long-term funds | (7,053 | ) | (5,751 | ) | (3,053 | ) | (33,428 | ) | (12,558 | ) |
| Total money market funds | 1,362 | 934 | (52 | ) | 10,182 | 2,818 | ||||
| Total | (5,691 | ) | (4,817 | ) | (3,105 | ) | (23,246 | ) | (9,740 | ) |
* See below for important information about this data.
Mutual fund net assets ($ billions)*
| Asset class | Aug 2023 | July 2023 | Aug 2022 | Dec 2022 |
| Long-term funds | ||||
| Balanced | 893.6 | 902.6 | 896.5 | 880.6 |
| Equity | 701.4 | 707.4 | 648.9 | 649.6 |
| Bond | 234.4 | 235.1 | 230.5 | 222.7 |
| Specialty | 25.6 | 25.0 | 22.1 | 22.2 |
| Total long-term funds | 1,854.9 | 1,870.2 | 1,798.0 | 1,775.1 |
| Total money market funds | 45.8 | 44.1 | 29.7 | 34.5 |
| Total | 1,900.7 | 1,914.3 | 1,827.7 | 1,809.6 |
ETF net sales/net redemptions ($ millions)*
| Asset class | Aug 2023 | July 2023 | Aug 2022 | YTD 2023 | YTD 2022 | ||
| Long-term funds | |||||||
| Balanced | 140 | 133 | 17 | 1,103 | 1,384 | ||
| Equity | 335 | 887 | 1,190 | 6,962 | 10,003 | ||
| Bond | 641 | 986 | (347 | ) | 7,087 | 3,148 | |
| Specialty | (283 | ) | 37 | 21 | 1,044 | 1,160 | |
| Total long-term funds | 833 | 2,042 | 881 | 16,196 | 15,696 | ||
| Total money market funds | 1,051 | 754 | 594 | 6,864 | 3,324 | ||
| Total | 1,884 | 2,796 | 1,475 | 23,060 | 19,020 | ||
ETF net assets ($ billions)*
| Asset class | Aug 2023 | July 2023 | Aug 2022 | Dec 2022 |
| Long-term funds | ||||
| Balanced | 13.9 | 13.9 | 11.8 | 12.0 |
| Equity | 220.0 | 222.4 | 191.2 | 194.9 |
| Bond | 86.3 | 86.2 | 75.8 | 80.4 |
| Specialty | 11.7 | 12.2 | 10.3 | 10.2 |
| Total long-term funds | 331.9 | 334.8 | 289.1 | 297.5 |
| Total money market funds | 23.1 | 22.0 | 9.6 | 16.3 |
| Total | 355.0 | 356.8 | 298.7 | 313.7 |
* See below for important information about this data.
IFIC direct survey data (which accounts for approximately 85 per cent of total mutual fund industry assets and approximately 83 per cent of total ETF industry assets) is complemented by estimated data to provide comprehensive industry totals.
IFIC makes every effort to verify the accuracy, currency, and completeness of the information, however, IFIC does not guarantee, warrant, represent or undertake that the information provided is correct, accurate or current.
© The Investment Funds Institute of Canada. No reproduction or republication in whole or in part is permitted without permission.
* Important information about investment fund data
- Mutual fund data is adjusted to remove double counting arising from mutual funds that invest in other mutual funds.
- Starting with January 2022 data, ETF data is adjusted to remove double counting arising from Canadian-listed ETFs that invest in units of other Canadian-listed ETFs. Any references to IFIC ETF assets and sales figures prior to 2022 data should indicate that the data has not been adjusted for ETF of ETF double counting.
- The balanced funds category includes funds that invest directly in a mix of stocks and bonds or obtain exposure through investing in other funds.
- Mutual fund data reflects the investment activity of Canadian retail investors.
- ETF data reflects the investment activity of Canadian retail and institutional investors.
About IFIC
The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation. To learn more about IFIC, please visit www.ific.ca.
For more information, please contact:
Christine Harminc
Senior Manager, Communications and Public Affairs
charminc@ific.ca
416-309-2313
