IFIC reports monthly sales, assets
Canada’s mutual fund industry had total assets of $1.53 trillion in July, up 0.9% or $13.1 billion compared to June.
IFIC has released its monthly report on sales and assets in the industry and reveals that the mutual fund industry recorded net sales of $772 million and year-to-date net sales of $15.2 billion.
The rise in net sales included a 301% year-over-year surge in year-to-date net sales in money market funds to $732 million. Money market fund net redemptions were $169 million in July 2018.
The other main fund types all recorded lower year-to-date net sales than in the same period of 2017:
- Long-term fund net sales were $941 million in July and year-to-date net sales were $14.5 billion. Year-to-date long-term fund net sales were 59.2% lower than year-to-date, 2017.
- Balanced fund net sales were $519 million in June and year-to-date net sales were $7.4 billion. Year-to-date balanced fund net sales were 63.9% lower than year-to-date, 2017.
- Equity fund net sales were $45 million in June and year-to-date net sales were $4.6 billion. Year-to-date equity fund net sales were 8.4% lower than year-to-date, 2017.
- Bond fund net sales were $33 million in June and year-to-date net sales were $685 million. Year-to-date bond fund net sales were 91.8% lower than year-to-date, 2017.
