Canadian mutual fund assets up 1.2% in October: SIMA

Canadian mutual fund and ETF assets both grew for the sixth consecutive month in October, with mutual funds adding $302 billion over the six-month period and ETFs adding $136 billion, according to the Securities and Investment Management Association (SIMA).

Mutual fund assets in Canada totalled $2.5 trillion at the end of October, up $30.7 billion (1.2%) since September. Mutual fund net sales were $4.2 billion, SIMA reported.

Mutual fund sales were led by bond funds ($2.7 billion) in October, followed by balanced funds ($1.8 billion) and specialty funds ($1.1 billion). There was a net redemption of equity funds (-$1.3 billion) and money market funds (-$130 million), however.

Meanwhile, ETF assets totalled $682.5 billion at the end of October, up $18.7 billion (2.8%) since September. ETF net sales were $9.7 billion.

ETF net sales were led by equity funds ($436 million), followed by bond funds ($141 million). Only money market funds saw a net redemption (-$197 million).

Jonathan Got

Jonathan Got is a reporter with Advisor.ca and its sister publication, Investment Executive. Reach him at jonathan@newcom.ca.