TORONTO, Aug. 19, 2021 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) today announced investment fund net sales and net assets for July 2021.
Mutual fund assets totalled $1.983 trillion at the end of July 2021. Assets increased by $33.0 billion or 1.7% compared to June 2021. Mutual funds recorded net sales of $8.8 billion in July 2021.
ETF assets totalled $313.6 billion at the end of July 2021. Assets increased by $6.7 billion or 2.2% compared to June 2021. ETFs recorded net sales of $3.0 billion in July 2021.
Mutual Fund Net Sales/Net Redemptions ($ Millions)*
Asset Class
Jul. 2021
Jun. 2021
Jul. 2020
YTD 2021
YTD 2020
Long-term Funds
Balanced
4,929
8,053
203
44,504
(6,449
)
Equity
1,857
3,796
(87
)
27,783
1,831
Bond
2,080
1,112
2,574
11,410
7,265
Specialty
413
565
526
3,512
3,424
Total Long-term Funds
9,279
13,526
3,216
87,208
6,071
Total Money Market Funds
(447
)
(942
)
154
(6,448
)
5,119
Total
8,833
12,584
3,370
80,760
11,191
Mutual Fund Net Assets ($ Billions)*
Asset Class
Jul. 2021
Jun. 2021
Jul. 2020
Dec. 2020
Long-term Funds
Balanced
977.1
959.1
819.9
874.4
Equity
699.4
686.9
522.8
593.4
Bond
259.1
257.2
232.0
246.4
Specialty
19.8
18.7
30.1
35.0
Total Long-term Funds
1,955.4
1,921.9
1,604.8
1,749.3
Total Money Market Funds
27.3
27.8
37.2
34.4
Total
1,982.6
1,949.7
1,641.9
1,783.7
* Please see below for important information regarding this data.
ETF Net Sales/Net Redemptions ($ Millions)*
Asset Class
Jul 2021
Jun. 2021
Jul. 2020
YTD 2021
YTD 2020
Long-term Funds
Balanced
292
320
90
2,620
1,052
Equity
2,449
2,727
2,293
20,535
17,718
Bond
(362
)
1,224
3,303
7,661
6,775
Specialty
273
665
261
6,059
1,261
Total Long-term Funds
2,651
4,936
5,947
36,875
26,805
Total Money Market Funds
357
103
423
(1,216
)
2,193
Total
3,009
5,039
6,369
35,659
28,998
ETF Net Assets ($ Billions)*
Asset Class
Jul. 2021
Jun. 2021
Jul. 2020
Dec. 2020
Long-term Funds
Balanced
10.5
10.1
5.8
7.2
Equity
200.4
195.4
138.8
158.4
Bond
85.9
85.8
74.6
79.3
Specialty
10.6
9.8
4.8
5.2
Total Long-term Funds
307.5
301.2
224.1
250.0
Total Money Market Funds
6.0
5.7
6.7
7.3
Total
313.6
306.8
230.8
257.3
* 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.
ETF data is not adjusted to remove double counting arising from ETFs 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 essentially unchanged Friday, while U.S. markets were mixed to end the week, with the Dow ekeing out a new record high.
The S&P/TSX composite index closed up 1.28 points at 23,867.55.
In New York, the Dow Jones industrial average was up 38.17 points at 42,063.36. The S&P 500 index was down 11.09 points at 5,702.55, while the Nasdaq composite was down 65.66 points at 17,948.32.
The Canadian dollar traded for 73.72 cents UScompared with 73.73 cents US on Thursday.
The November crude oil contract was down 16 cents at US$71 per barrel and the November natural gas contract was up 12 cents at US$2.72 per mmBTU.
The December gold contract was up US$31.60 at US$2,646.20 an ounceand the December copper contract was down a penny at US$4.34 a pound.
This report by The Canadian Press was first published Sept. 20, 2024.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.