Mutual funds outsold ETFs in July, says IFIC

After month-on-month decrease in net sales, balanced mutual funds still emerged as inflow leaders

Mutual funds outsold ETFs in July, says IFIC

Both mutual funds and ETFs saw their monthly sales decline in July, but mutual funds still came out ahead in the inflows game.

According to the latest figures from the Investment Funds Institute of Canada (IFIC), net sales of Canadian mutual funds totalled $8.833 billion last month, roughly a third lower than the $12.584 billion in mutual fund net sales recorded in June.

Balanced mutual funds saw net sales of $4.929 billion in July, while equity funds and bond funds saw $1.857 billion and $2.080 billion in net sales, respectively. Money-market funds, meanwhile, saw $447 million in net outflows.

At the end of July, Canadian mutual fund net assets amounted to $1.982 trillion, including $977 billion in balanced funds, $699 billion in equity funds, and $259 billion in bond funds.

ETF net sales also slowed down significantly, going from $5.039 billion in June to just $3.009 billion in July.

Equity ETFs took in $2.449 billion and balanced ETFs saw $292 million in net sales last month, while bond ETFs saw $362 in net redemptions. Money-market fund ETFs netted $357 million in sales.

Canadian ETFs ended July with $313.6 billion in net assets. Assets in equity ETFs amounted to $200.4 billion, while bond ETFs had $85.9 billion. Balanced strategies, meanwhile, held just $10.5 billion in net assets.


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