The power behind the sales last month were bond mutual funds with $3.3. billion in net sales, which more than offset the $2.1 billion in net redemptions for equity funds (which posted a small $107 million in net sales in December). Balanced funds were also negative at $388 million net redemptions, although this was down from $573 million net redemptions in December and tiny compared to the $4.5 billion net redemptions of January 2024.
Speciality mutual funds soared in January with $1.4 billion in net sales, well above the $503 million of December. Money market funds were also positive with $852 million improving on December’s $721 million.
Mutual fund assets totalled $2.311 trillion at the end of January, up by $68.9 billion or 3.1% since December.
ETFs remain strong
Meanwhile, Canadian ETFs continued their stellar performance and posted on of their best months of net sales ever.
IFIC’s stats show that these funds saw $9 billion in net sales in January, down from the $11 billion in December but almost three times the $3.2 billion of January 2024. Last month’s net sales join the top three ever behind December and June 2024.