The Investment Funds Institute of Canada (IFIC) has released April net sales and asset figures for the Canadian mutual fund industry
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The Investment Funds Institute of Canada (IFIC) has released April net sales and asset figures for the Canadian mutual fund industry.
Mutual fund net sales saw a significant month-on-month slowdown. April’s reported net inflows were $2.728 billion, less than half of March’s record of $5.765 billion. Year-to-date net sales were at $21.695 billion.
Breaking down net sales by asset class, balanced funds attracted the most assets with $1.594 billion in net sales. Bond funds followed with $1.269 billion. Specialty funds and equity funds saw comparatively little action, gaining just $141.7 million and $7 billion, respectively. Short-term funds got the short end, losing $275.4 million for the month.
Total industry assets reported for April was $1.419 trillion, a slight improvement over the previous month’s $1.392 trillion.
Despite doing worst in net sales, equity funds kept the top spot in assets under management, with assets of $459.6 billion. Balanced funds followed with $737.9 billion, and bond funds were a distant third with $184.5 billion. Short-term fund assets were just $24.1 billion, though they still exceeded specialty funds’ assets of $12.5 billion.
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Mutual fund net sales saw a significant month-on-month slowdown. April’s reported net inflows were $2.728 billion, less than half of March’s record of $5.765 billion. Year-to-date net sales were at $21.695 billion.
Breaking down net sales by asset class, balanced funds attracted the most assets with $1.594 billion in net sales. Bond funds followed with $1.269 billion. Specialty funds and equity funds saw comparatively little action, gaining just $141.7 million and $7 billion, respectively. Short-term funds got the short end, losing $275.4 million for the month.
Total industry assets reported for April was $1.419 trillion, a slight improvement over the previous month’s $1.392 trillion.
Despite doing worst in net sales, equity funds kept the top spot in assets under management, with assets of $459.6 billion. Balanced funds followed with $737.9 billion, and bond funds were a distant third with $184.5 billion. Short-term fund assets were just $24.1 billion, though they still exceeded specialty funds’ assets of $12.5 billion.
For more of Wealth Professional's latest industry news, click here.
Related stories:
Why is it so hard to find good active managers?
Hedge fund strategies face fee pressures
