Canadian funds added more than $200 billion last year

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By the end of 2020, Canada had 112 companies offering mutual funds, a decrease of five firms over the previous year that was attributed to consolidation. “Also largely due to consolidation, throughout 2020, on a net basis, the number of available mutual funds decreased by 37, bringing the total number of funds on offer to 3,459,” the report said.

There were 39 Canadian ETF managers with a total of 853 funds at the end of 2020, with 107 ETFs – mostly active – added over the course of the year.

“The majority of Canadian mutual fund assets at year-end 2020 were in the balanced fund category comprising 49% of total fund assets. … Equity funds were the second largest category, with 33% of assets,” IFIC said. In contrast, equity strategies accounted for 61% of total ETF assets, followed by bond funds at 31%

Responsible investing assets, the report said, ended the year with $17.3 billion held in 94 RI mutual funds across 26 firms, while $2.8 billion in RI assets were held in 50 RI ETFs by 13 firms.

“Responsible investment fund assets grew by 55% in 2020, compared to 11% growth for the fund industry overall,” IFIC said.

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