Canada's mutual funds industry had $1.49 trillion AUM last month

Canada’s mutual funds industry added $2.4 billion to its assets under management in April, up 0.2% from March.

The latest IFIC monthly stats show net sales for the mutual funds industry were $459 million while net sales of long-term funds were $370 million and net sales of money market funds were $89 million.

The annual increase for AUM across mutual funds was 4.7% or $66.6 billion. Year-to-date net sales were $14.9 billion.

Balanced funds net redemptions of $104 million compared to the previous month’s net sales of $1.4 billion. Year-to-date sales for this asset class are weaker than in the same period of 2017 with $8.3 billion vs. $11.9 billion.

For bond funds there were net redemptions of $12 million compared to net sales of $127 million in March. Year-to-date net sales totalled $1.4 billion, compared to a year earlier when they totalled $5.2 billion.

Equity funds’ net sales in April 2018 totalled $260 million compared to net sales in March of $937 million. Year-to-date net sales for equity funds totalled $4.1 billion compared to net sales of $3.9 billion for the same period last year.