The pullback from mutual funds was led by balanced long-term funds ($2.4 billion net redemptions) but equity, bond, and money markets funds were also negative.
Specialty funds bucked the trend with net sales of $89 million, but overall mutual funds net redemptions year-to-date totalled $10.3 billion compared to $90 billion in net sales in the same period of 2021.
Mutual fund assets totalled $1.827 trillion at the end of August 2022. Assets decreased by $37.6 billion or 2.0% compared to July 2022.
ETFs remain in focus
Meanwhile, Canadian ETFs maintained their winning position, with the near-$1.5 billion in net sales taking the year-to-date figure to $19 billion, however this is less than half the figure for the same period of 2021.