Investors continue to hit the “sell” button on Canadian mutual funds.
Data from the Investment Funds Institute of Canada (IFIC) showed there were net redemptions
of $4.5 billion from equity and bond mutual funds in July. That follows record redemptions of
$10.4 billion in June of this year.
Money market funds and guaranteed investment certificates (GICs), which are generally viewed
as safer investments than stocks, saw modest inflows during July.
Exchange-traded funds (ETFs) saw inflows of $1.5 billion in July, with investors particularly
drawn to fixed income ETFs. Stock-based ETFs saw a net outflow in the month.
The IFIC collects data from 91% of the mutual funds available in Canada, and says it
complements its information with data from Investor Economics.
