SIMA data reveals total assets for both funds types decreased in March
Canadian investment funds saw their assets impacted by performance in March, amid market volatility sparked by US trade policy.
But sales remained in positive territory for both mutual funds and ETFs according to the latest data from the Securities and Investment Management Association (formerly IFIC).
Mutual funds, which had a stellar month in February with sales of $9 billion, the highest in three years, slipped back to $1.3 billion net sales last month with equities the biggest drain (net redemptions of $3.4 billion compared to $195 million net redemptions in February) and balanced funds ($1.7 billion net redemption compared to $1.5 billion net sales in February).
These were offset by net sales for bonds ($2.8 billion vs. $3.1 billion in February), specialty ($974 million versus $2.5 billion in February), and money market funds ($2.6 billion versus $2.1 billion in February). Money market inflows reaching their highest level since the COVID-related market crisis in March 2020.
Mutual fund assets totalled $2.258 trillion at the end of March, down by $52.4 billion or 2.3% since February.
Meanwhile, Canadian ETFs saw net sales of $13.9 billion in March, up from $9.9 billion in February.
Equity funds were the largest-selling category at $6.4 billion (up from $4 billion in February) with more than 40% going to international equity funds. Bonds posted net sales of $4 billion last month ($3 billion in February), balanced $628 million ($750 million in February), specialty $652 million ($753 million in February), and money markets $2.1 billion ($1.3 billion in February).
ETF assets, which reached a new all-time high in February, slipped back by $0.2 billion or 0.04% to a total of $546.9 billion at the end of March.
