This article appears in the December 2022 issue of Investment Executive. Subscribe to the print edition, read the digital edition or read the articles online.
Editor’s note: Since April 2021, First Asset Investment Management falls under the CI Global Asset Management brand.
The ETF industry continued to grow this year despite miserable returns and surging net redemptions in the mutual fund space. ETF growth was driven by both retail and institutional investors: as of Dec. 31, 2018, institutional investors held 33.2% of all Canadian and U.S. ETF assets held by domestic investors. This proportion peaked at 41.4% on Sept. 30, 2020, but declined to 36.3% as of March 31, 2022, according to Investor Economics.
An increasingly diversified market
Manufacturer market share, as measured by Canada-listed ETF AUM
Net creations slow but steady in 2022
Canadian ETF positive net creations* by issuer (as a % of industry net creations)
ESG ETFs continue to gain popularity
Net creations and AUM of ESG ETFs recorded at the end of each period
Despite volatility, low net redemptions for crypto ETFs
The price of bitcoin slid for most of 2022, but most investors seem to be sticking with crypto ETFs
