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Saturday, November 23, 2024

Mutual fund redemptions slowed in Could, so did ETF gross sales


Mutual fund complete property reached their second highest month-to-month stage ever behind December 2021 as constructive market efficiency added $44.4 billion, a 2.2% rise to $2.06 trillion. These funds had been unfavourable for 3 consecutive months, however in May over half of all cash market funds skilled constructive inflows. Nevertheless, year-to-date internet gross sales are 92% down from the identical interval in 2023.

ETFs

In the meantime, Canadian ETFs recorded one other month of sturdy internet gross sales at $4.4 billion however slipping from April’s $5.5 billion.

Not like mutuals, ETFs posted internet gross sales throughout all main asset lessons, though all had been decrease than within the earlier month, considerably for equities ($2.8 billion in Could vs. $4 billion in April), and to a lesser lengthen for bonds ($1.3 billion vs. $1.7 billion). Balanced ($243 million vs. $362 million) and specialty ($22 million vs. $82 million) additionally recorded decrease totals.

The exception was cash market funds, which reversed $747 million internet redemptions in April with Could’s $86 million internet gross sales.

ETF property totalled $429.2 billion on the finish of Could, up by $15.6 billion or 3.8%. Yr-to-date ETF property grew by $47.2 billion or 12.4 per cent, which is near double the expansion in absolute phrases in comparison with 2023.

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