Assets grew faster for ETFs than mutual funds according to April figures
Exchange traded funds continue to record strong growth in the Canadian investment market according to the latest stats released this week.
There was a 3.4% rise in total assets of Canadian ETFs last month, adding $5.9 billion from March to a total $178.7 billion at the end of April 2019. There were net sales of $2.4 billion.
Meanwhile, the total assets of mutual funds gained 2% - or $31.4 billion – month-over-month to a total $1.56 trillion. There was a net redemption of $1 billion.
The figures from the Investment Funds Institute of Canada (IFIC) reveal that equities saw the largest gain for ETF sales, jumping from $223m in March to $782m in April, although bonds remained the largest asset class at $1,381m.
For mutual funds, redemptions were largest in the equity and balanced asset classes with specialty and bonds posting net sales but both lower than in March.
