IFIC Monthly Investment Fund Statistics – July 2023

The Investment Funds Institute of Canada (IFIC) has released figures regarding investment fund net sales and net assets for July 2023. Mutual fund assets stood at $1.914 trillion at the end of July, reflecting an increase of $19.5 billion or 1.0 percent from June 2023. Despite this growth in assets, mutual funds experienced net redemptions of $4.8 billion during July.

Exchange-traded funds (ETFs) also showed positive growth, with total assets reaching $356.8 billion at the end of July, an increase of $8.3 billion or 2.4 percent from the previous month. Unlike mutual funds, ETFs recorded net sales of $2.8 billion in July 2023.

IFIC's data provides a detailed look at mutual fund net sales and redemptions across various asset classes. In July 2023, long-term funds saw a total net redemption of $5.733 billion, with balanced funds leading this with a net redemption of $4.571 billion. Conversely, money market funds reported net sales of $895 million for the same month.

For ETFs, long-term funds recorded net sales of $2.042 billion in July 2023, with equity funds contributing significantly to this figure. The ETF category of balanced funds had net sales of $133 million, and overall, net sales in the ETF sector for July totaled $2.796 billion.

The data released by IFIC accounts for approximately 85 percent of total mutual fund industry assets and approximately 83 percent of ETF industry assets, ensuring comprehensive industry totals. The organization emphasizes its commitment to providing accurate and complete data, although it does not guarantee its correctness.