Balanced and equity funds gained as bond sales slipped
Mutual fund sales in February were up 2% compared to the previous month.
The latest stats from the Investment Funds of Canada (IFIC) show that net assets increased by $34.8 billion to a total of $1.81 trillion. Net sales totaled $17.5 billion.
The figures for ETFs show assets of $269.2 billion, an increase of $9.4 billion (3.6%) with net sales of $5.8 billion.
Among long-term funds, net sales were up balanced and equity funds but down for bonds.
Balanced fund net sales totaled $8,745m compared to $4,980m in January; equity fund sales rose to $6,490m from $4,218m; and bond fund sales decreased to $2,482m from $3,096m.
Total money market funds registered a net redemption of $957m in February, down from $1,485m in January.
For ETFs, equity funds saw the largest gains, with net sales rising to $3,471m from $2,178m. Balanced fund sales were down from $495m to $477m, while bonds were down from $1,309m to $1,172m.
How the stats are compiled
Mutual fund data is adjusted to remove double counting arising from mutual funds that invest in other mutual funds. ETF data is not adjusted to remove double counting arising from ETFs that invest in other ETFs.
The Balanced Funds category includes funds that invest directly in a mix of stocks and bonds or obtain exposure through investing in other funds.
Mutual fund data reflects the investment activity of Canadian retail investors. ETF data reflects the investment activity of Canadian retail and institutional investors.
