Both mutual funds and ETFs enjoyed increase in assets
The net sales and assets of investment funds for January 2023 have been released by the Investment Funds Institute of Canada (IFIC).
By the end of January 2023, mutual fund assets were at $1.886 trillion. As compared to December 2022, assets grew by $77 billion or 4.3%. In January 2023, net redemptions from mutual funds totalled $477 million.
In January 2023, there were $328.9 billion in ETF assets. From December 2022 to December 2023, assets rose by $15.2 billion or 4.8%. Net redemptions from ETFs in January 2023 amounted to $491 million.
It is important to note that double counting brought on by mutual funds that invest in other mutual funds is removed from mutual fund data adjustments. ETF data is modified beginning with January 2022 data to eliminate duplicate counting brought on by Canadian-listed ETFs that invest in shares of other Canadian-listed ETFs.
Furthermore, all references to IFIC ETF assets and sales numbers made before 2022 data should include a disclaimer that the information has not been double counted or adjusted for ETFs. Funds that invest directly in a combination of stocks and bonds or get exposure through investing in other funds fall under the category of balanced funds.
The report also shows that the investing behaviour of regular investors in Canada is reflected in mutual fund data and that ETF data depicts the investing activity of institutional and retail investors in Canada.