The pullback from mutual funds was led by balanced long-term funds ($2.4 billion internet redemptions) however fairness, bond, and cash markets funds have been additionally destructive.
Specialty funds bucked the development with internet gross sales of $89 million, however total mutual funds internet redemptions year-to-date totalled $10.3 billion in comparison with $90 billion in internet gross sales in the identical interval of 2021.
Mutual fund property totalled $1.827 trillion on the finish of August 2022. Property decreased by $37.6 billion or 2.0% in comparison with July 2022.
ETFs stay in focus
In the meantime, Canadian ETFs maintained their successful place, with the near-$1.5 billion in internet gross sales taking the year-to-date determine to $19 billion, nevertheless that is lower than half the determine for a similar interval of 2021.
