TORONTO, April 22, 2022 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) today announced investment fund net sales and net assets for March 2022.
Mutual fund assets totalled $2.002 trillion at the end of March 2022. Assets increased by $4.1 billion or 0.2% compared to February 2022. Mutual funds recorded net sales of $0.9 billion in March 2022.
ETF assets totalled $324.7 billion at the end of March 2022. Assets increased by $7.5 billion or 2.4% compared to February 2022. ETFs recorded net sales of $4.6 billion in March 2022.
Mutual Fund Net Sales/Net Redemptions ($ Millions)*
Asset Class
Mar. 2022
Feb. 2022
Mar. 2021
YTD 2022
YTD 2021
Long-term Funds
Balanced
212
5,062
8,987
8,354
22,712
Equity
1,000
4,627
4,544
8,549
15,251
Bond
(524
)
(155
)
151
(313
)
5,729
Specialty
132
241
416
1,001
2,024
Total Long-term Funds
820
9,775
14,098
17,591
45,717
Total Money Market Funds
102
112
(1,093
)
392
(3,534
)
Total
922
9,887
13,006
17,982
42,182
Mutual Fund Net Assets ($ Billions)*
Asset Class
Mar. 2022
Feb. 2022
Mar. 2021
Dec. 2021
Long-term Funds
Balanced
985.0
986.5
908.4
1,024.9
Equity
719.3
708.4
639.6
747.7
Bond
247.7
253.4
250.8
261.5
Specialty
22.5
22.4
16.8
22.2
Total Long-term Funds
1,974.5
1,970.6
1,815.6
2,056.3
Total Money Market Funds
27.0
26.8
30.3
26.4
Total
2,001.5
1,997.4
1,845.9
2,082.6
* Please see below for important information regarding this data.
ETF Net Sales/Net Redemptions ($ Millions)*
Asset Class
Mar. 2022
Feb. 2022
Mar. 2021
YTD 2022
YTD 2021
Long-term Funds
Balanced
238
251
413
789
1,385
Equity
2,217
3,104
3,103
9,618
8,751
Bond
1,512
(53
)
949
1,190
3,431
Specialty
498
309
815
895
1,749
Total Long-term Funds
4,465
3,610
5,281
12,492
15,316
Total Money Market Funds
116
411
(579
)
688
(835
)
Total
4,580
4,021
4,702
13,180
14,482
ETF Net Assets ($ Billions)*
Asset Class
Mar. 2022
Feb. 2022
Mar. 2021
Dec. 2021
Long-term Funds
Balanced
12.4
12.2
8.8
12.1
Equity
213.0
206.5
175.4
225.2
Bond
78.2
78.5
80.4
89.6
Specialty
14.2
13.1
6.9
13.6
Total Long-term Funds
317.7
310.2
271.5
340.5
Total Money Market Funds
7.0
6.9
6.4
6.6
Total
324.7
317.1
277.9
347.1
* Please see below for important information regarding this data.
IFIC direct survey data (which accounts for approximately 91% of total mutual fund industry assets) is complemented by data from Investor Economics to provide comprehensive industry totals.
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.
* Important Information Regarding Investment Fund Data:
Mutual fund data is adjusted to remove double counting arising from mutual funds that invest in other mutual funds.
Starting from January 2022, ETF data is adjusted to remove double counting arising from ETF that invest in other ETFs.
The Balanced Funds category includes funds that invest directly in a mix of stocks and bonds or obtain exposure through investing in other funds.
Mutual fund data reflects the investment activity of Canadian retail investors.
ETF data reflects the investment activity of Canadian retail and institutional investors.
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. To learn more about IFIC, please visit www.ific.ca.
For more information please contact:
Pira Kumarasamy Senior Manager, Communications and Public Affairs pkumarasamy@ific.ca 416-309-2317
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
