So far this year, IFIC said, mutual funds have seen net inflows of $104 billion. By this point last year, Canadian mutual funds had taken in just $18 billion.
Mutual fund assets stood at roughly $2 trillion at the end of October, roughly flat compared to September.
Meanwhile, ETFs gathered net inflows of $4.4 billion last month, a substantial rise from $2.8 billion in September and $2 billion in October last year.
The lion’s share of the flows went to equity ETFs, which soaked in $3.12 billion after taking in a mere $221 million the month previous. Bond ETFs had the opposite experience, with just $461 million going into the category compared to $1.7 billion in September.
For this year up to October, Canadian ETFs took in $47.5 billion in net inflows, an improvement over the $34.4 billion seen over the same period in 2020.