June data also reveals big gains in bond fund sales
Mutual funds generated more in net sales compared to ETFs for the month of June, according to data from the Investment Funds Institute of Canada (IFIC).
The data revealed that ETFs generated $327 million in net sales in June 2019 – a significant drop from the $4.05 billion generated in May. Comparatively, mutual funds generated $771 million in June 2019, up from $719 million generated in May.
Bond ETFs generated $870 million in sales, while equity ETFs lost $902 million. Bond mutual funds saw net sales of $1.1 billion, while equity funds saw $1.4 billion in losses.
ETF assets totalled $181.4 billion at the end of June 2019 – an increase of 2%, or $3.6 billion, compared to May 2019. ETFs recorded net sales of $0.3 billion in June 2019.
Meanwhile, mutual fund assets totalled $1.56 trillion at the end of June 2019, an increase of 1.9%, or $28.9 billion, compared to May 2019. Mutual funds recorded net sales of $0.8 billion in June 2019.
