TORONTO, Oct. 23, 2018 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) today announced mutual fund net sales and net assets for September 2018.
The combined assets of Canada's mutual fund industry totalled $1.52 trillion. Assets decreased by $13.3 billion or 0.9% compared to August 2018.
The mutual fund industry recorded net redemptions of $1.5 billion and year-to-date net sales of $14.0 billion.
Sales Highlights:
Long-term fund net redemptions were $1.4 billion in September and year-to-date net sales were $13.1 billion. Year-to-date long-term fund net sales were 66.3% lower than year-to-date, 2017.
Balanced fund net redemptions were $349 million in September and year-to-date net sales were $7.2 billion. Year-to-date balanced fund net sales were 66.8% lower than year-to-date, 2017.
Equity fund net redemptions were $277 million in September and year-to-date net sales were $4.3 billion. Year-to-date equity fund net sales were 21.3% lower than year-to-date, 2017.
Bond fund net redemptions were $1.0 billion in September and year-to-date net redemptions were $741 million. Year-to-date bond fund net sales were 107.5% lower than year-to-date, 2017.
Money market fund net redemptions were $168 million in September and year-to-date net sales were $821 million. Year-to-date money market fund net sales were 345% higher than year-to-date, 2017.
Net Sales ($ Millions)
Asset Class
September 2018
August 2018
September 2017
YTD 2018
YTD 2017
Long-term Funds
Balanced*
-349
146
247
7,154
21,568
Equity
-277
-24
595
4,325
5,495
Bond
-1,022
-405
755
-741
9,827
Specialty
266
325
142
2,412
2,084
Total Long-term Funds
-1,382
43
1,739
13,149
38,974
Total Money Market Funds
-168
257
-98
821
-335
Total Industry
-1,550
299
1,641
13,970
38,640
Net Assets ($ Billions)
Asset Class
September 2018
August 2018
September 2017
December 2017
Long-term Funds
Balanced*
780.9
788.2
741.9
766.1
Equity
512.2
516.4
462.5
484.3
Bond
186.6
188.3
186.1
187.7
Specialty
17.4
17.2
13.3
14.7
Total Long-term Funds
1,497.1
1,510.1
1,403.8
1,452.8
Total Money Market Funds
25.4
25.5
24.0
24.2
Total Industry
1,522.4
1,535.7
1,427.7
1,477.1
* Balanced funds include funds that invest in a mix of stocks and bonds as well as funds that invest in a mix of separate stand-alone funds.
IFIC makes every effort to verify the accuracy, currency and completeness of the information; however, IFIC does not guarantee, warrant, represent or undertake that the information provided is correct, accurate or current.
About IFIC
The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada's savers to Canada's economy, our industry contributes significantly to Canadian economic growth and job creation. The organization is proud to have served Canada's investment funds industry and its investors for more than 50 years. To learn more about IFIC, please visit www.ific.ca.
For more information please contact:
Lisa Hall Senior Manager, Communications and Public Affairs [email protected] 416-309-2317
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Compass Minerals International, Inc. between November 29, 2023 and March 22, 2024, both dates inclusive (the "Class Period"), of the important June 24,...
Al Hassan Ghazi Ibrahim Shaker Co. ("Shaker", the "Group" or the "Company"), Saudi Arabia's leading manufacturer, importer, and distributor of Air Conditioners and Home Appliances, has announced its financial results for the first quarter ended 31...
Zinzino, the global health and wellness brand from Scandinavia, has acquired, through a business asset acquisition, the rights to the distributor database and associated customer register, inventory, and intellectual property of the Luxembourg-based...
SecondOpinionExpert, Inc. (SOE), a leading healthcare technology company, announced today that it has entered into a strategic relationship with KangarooHealth, Inc. to improve patient health outcomes, as well as reduce the cost of delivering care by...
Max Stock Limited (the "Company") today reported the following updated holdings for the members of an institutional reporting group belonging to The Phoenix Insurance Company Ltd. collectively holding more than 5% of the Company's issued share...