Net sales of ETFs in Canada hit $8.5 billion in February — slightly surpassing mutual funds’ net sales of $8.2 billion, according to data from the Investment Funds Institute of Canada.
ETF sales more than doubled the $3.7 billion in sales recorded in January. Equity ($4.9 billion) and bond ($2.8 billion) funds led the board, while sales of specialty funds decreased to $43 million from $153 million one month prior.
ETF net assets totalled $210.3 billion at the end of February — falling 0.3% from $211.0 in January 2020.
February also saw positive sales across all mutual fund asset classes, led by long-term balanced ($3.5 billion) and long-term bond ($2.9 billion) funds. Total mutual fund assets decreased 3.1% month over month to $1.61 trillion.
Neither ETFs nor mutual funds recorded net redemptions in February.