Canadian mutual fund assets grew 0.2% or $3.3 billion to a total of almost $2.2 trillion with the monthly gains mostly attributed to new sales. It was the sixth consecutive monthly increase for mutual fund assets.
ETFs
Meanwhile, Canadian ETFs also improved on their September net sales of $5.5 billion with $8.2 billion in October.
That puts last month in the top three for monthly sales in 2024 so far and the second highest ever.
As with mutuals, there was a strong showing for bonds with net sales of $2.7 billion, but it was equity ETFs that accounted for the lion’s share of net sales with $4.4 billion. All asset classes were positive with $591 million for balanced funds, $327 million for specialty, and $87 million for money markets.
Total assets were $486.8 billion at the end of October, up 1.7% or $8.3 billion month-over-month and as with mutual funds this was almost entirely due to new sales.
