IFIC report reveals year-on-year improvement for bond funds as equity funds go lower
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The Invest Funds Institute of Canada (IFIC) has released its industry overview for December 2016.
According to the report, net sales for the industry in December were $1.81 billion, bringing year-to-date sales up to $30.07 billion. Long-term funds enjoyed net sales of $1.67 billion for the month and $30.72 billion year-to-date, while money market funds reached $139.9 million in net sales for the month and $648.6 million in net redemptions for the year.
Turning to asset figures, total AUM for mutual funds was $1.339 trillion in December, an increase of 0.97% over the previous month’s $1.326 trillion. Total assets in the industry rose by $107.7 billion, or 8.7%, year-on-year.
In terms of broad asset class, balanced funds had the best showing with net sales of $1.69 billion for the month, though it was a slight slip from the previous month’s $2.31 billion. Year-to-date net sales were $27.41 billion, just a little less than 60% of December 2015’s year-to-date record of $47.1 billion.
Bond funds managed net sales of $0.64 billion during the month, a marginal improvement over the $0.51 billion logged in November. Year-to-date net sales reached $9.3 billion, a far cry from 2015’s $2.75 billion.
As for equity funds, they suffered net redemptions of $0.54 billion for the month. The fund asset class experienced major pain in 2016, with year-to-date net redemptions of $6.04 billion compared to the previous year’s net sales of $5.31 billion over the same period.
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According to the report, net sales for the industry in December were $1.81 billion, bringing year-to-date sales up to $30.07 billion. Long-term funds enjoyed net sales of $1.67 billion for the month and $30.72 billion year-to-date, while money market funds reached $139.9 million in net sales for the month and $648.6 million in net redemptions for the year.
Turning to asset figures, total AUM for mutual funds was $1.339 trillion in December, an increase of 0.97% over the previous month’s $1.326 trillion. Total assets in the industry rose by $107.7 billion, or 8.7%, year-on-year.
In terms of broad asset class, balanced funds had the best showing with net sales of $1.69 billion for the month, though it was a slight slip from the previous month’s $2.31 billion. Year-to-date net sales were $27.41 billion, just a little less than 60% of December 2015’s year-to-date record of $47.1 billion.
Bond funds managed net sales of $0.64 billion during the month, a marginal improvement over the $0.51 billion logged in November. Year-to-date net sales reached $9.3 billion, a far cry from 2015’s $2.75 billion.
As for equity funds, they suffered net redemptions of $0.54 billion for the month. The fund asset class experienced major pain in 2016, with year-to-date net redemptions of $6.04 billion compared to the previous year’s net sales of $5.31 billion over the same period.
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Proposed ban on embedded commissions not justified, says IFIC
