Gross sales of Canadian ETFs remained sturdy in November too with $9 billion internet gross sales (up from $8.4 billion in October), pushed by $6.6 billion for equities (up from $4.5 billion in October). Bond ETF internet gross sales tumbled to $979 million from $2.9 billion within the earlier month. Cash market funds posted internet gross sales of $461 million (up from $87 million) and specialty posted $446 million (up from $327 million). Balanced ETFs had internet gross sales of $653 million, simply shy of October’s $591 million.
With internet gross sales of $64.6 billion as much as the tip of November, this was a brand new document for the primary 11 months of a 12 months having surpassed the identical interval of 2021 throughout Covid restoration.
Mutual funds
The IFIC stats additionally reveal one other sturdy month for Canadian mutual funds which noticed whole property rise to $2.3 trillion in November 2024, up $78.8 billion or 3.6% month-over-month.
These funds recorded internet gross sales of $4.6 billion, up from $3.6 billion within the earlier month and marking the second-largest mutual fund month-to-month internet gross sales in historical past with all main asset lessons producing inflows.
Bonds had been the most important asset class for mutual funds with internet gross sales of virtually $2 billion, though this was down greater than $1 billion from the earlier month. Two asset lessons reversed month-to-month internet redemptions in October to document internet gross sales in November: Balanced ($493 million vs. -$223 million) and Fairness ($678 million vs. -$103 million).