News - Full StoryIFIC monthly investment fund statistics - March 2024
Mutual fund and exchange-traded fund (ETF) assets and sales
TORONTO, April 23, 2024 /CNW/ - The Investment Funds Institute of Canada (IFIC) today announced investment fund net sales and net assets for March 2024.
Mutual fund assets totalled $2.055 trillion at the end of March, up by $43.1 billion or 2.1 per cent since February. Mutual fund net sales were $0.2 billion in March.
ETF assets totalled $417.1 billion at the end of March, up by $13.4 billion or 3.3 per cent since February. ETF net sales were $4.0 billion in March.
March insights
Mutual fund and ETF assets increased for the fifth consecutive month. For mutual funds, assets increased by 13.5 per cent, or by $244.4 billion since October 2023. ETF assets increased by 20.8 per cent or by $71.8 billion.
Bond funds have been the largest source of mutual fund inflows and the best-selling asset category for the past four months. Prior to December, money market funds saw the highest inflows each month going back to March 2023.
For ETFs, inflows remained concentrated in equity funds. Year to date, equity funds accounted for 74.1 per cent of total net sales.
Mutual fund net sales/net redemptions ($ millions)*
Asset class
Mar 2024
Feb 2024
Mar 2023
YTD 2024
YTD 2023
Long-term funds
Balanced
(2,727)
(871)
(4,167)
(8,073)
(9,512)
Equity
722
1,548
(2,013)
1,212
(2,257)
Bond
1,688
1,768
480
7,198
6,307
Specialty
626
777
456
1,969
1,169
Total long-term funds
309
3,221
(5,244)
2,306
(4,293)
Total money market funds
(107)
(40)
1,800
340
4,118
Total
202
3,182
(3,445)
2,646
(175)
Mutual fund net assets ($ billions)*
Asset class
Mar 2024
Feb 2024
Mar 2023
Dec 2023
Long-term funds
Balanced
938.3
923.4
903.7
904.4
Equity
784.3
760.8
682.9
714.7
Bond
250.4
247.2
233.6
242.4
Specialty
30.1
28.9
23.7
27.0
Total long-term funds
2,003.2
1,960.2
1,843.8
1,888.5
Total money market funds
52.1
52.0
39.0
51.0
Total
2,055.3
2,012.2
1,882.8
1,939.5
* Please see below for important information regarding this data.
ETF net sales/net redemptions ($ millions)*
Asset class
Mar 2024
Feb 2024
Mar 2023
YTD 2024
YTD 2023
Long-term funds
Balanced
427
450
156
1,280
387
Equity
2,935
4,032
3,784
9,363
4,422
Bond
701
1,209
2,297
2,230
2,585
Specialty
(109)
22
(190)
(434)
615
Total long-term funds
3,953
5,713
6,047
12,440
8,010
Total money market funds
1
(207)
795
195
2,441
Total
3,954
5,506
6,842
12,634
10,450
ETF net assets ($ billions)*
Asset class
Mar 2024
Feb 2024
Mar 2023
Dec 2023
Long-term funds
Balanced
17.3
16.5
13.0
15.1
Equity
261.1
250.6
209.3
233.0
Bond
95.9
94.8
84.4
94.6
Specialty
17.2
16.3
11.8
14.4
Total long-term funds
391.5
378.2
318.4
357.2
Total money market funds
25.6
25.6
18.7
25.3
Total
417.1
403.8
337.1
382.5
* See below for important information about data.
IFIC direct survey data (which accounts for approximately 87 per cent of total mutual fund industry assets and approximately 80 per cent of total ETF industry assets) is complemented by estimated data to provide comprehensive industry totals.
IFIC makes every effort to verify the accuracy, currency and completeness of the information; however, IFIC does not guarantee, warrant, represent or undertake that the information provided is correct, accurate or current.
* Important information about investment funds data
Mutual fund data is adjusted to remove double counting arising from mutual funds that invest in other mutual funds.
Starting with January 2022 data, ETF data is adjusted to remove double counting arising from Canadian-listed ETFs that invest in units of other Canadian-listed ETFs. Any references to IFIC ETF assets and sales figures prior to 2022 data should indicate that the data has not been adjusted for ETF of ETF double counting.
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.
About IFIC
The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada's savers to Canada's economy, our industry contributes significantly to Canadian economic growth and job creation. Learn more about IFIC