Canadian ETFs reach new high in assets
ETF data provider ETFGI reports that ETFs and ETPs listed in Canada reached a new high of USD131 billion in assets, following net inflows and market moves of USD2.19 billion during August.
ETFGI writes that the 6.76 per cent increase in total assets marks the largest monthly change since March 2016 with equity ETFs/ETPs gathering the largest net inflows during August, while commodity ETFs/ETPs saw net outflows.
At the end of August 2018, the Canadian ETF/ETP industry had 624 ETFs/ETPs, with 750 listings, assets of USD131 billion, from 28 providers listed on two exchanges. Due to net inflows and market moves the assets invested in ETFs/ETPs listed in Canada increased by 6.76 per cent during the month, from USD123 billion at the end of July 2018, and have increased by 12.28 per cent year-to-date from USD117 billion at the end of 2017.
Equity based ETFs and ETPs gathered net inflows of USD1.28 billion in August, bringing net inflows for 2018 to USD5.47 billion, marginally less than the USD5.78 billion in net inflows at this point last year.
Fixed income ETFs/ETPs listed in Canada gathered net inflows of USD349 million in August, bringing net inflows for 2018 to USD474 million, substantially less than the USD3.87 billion in net inflows at this point last year.
Commodity ETFs/ETPs listed in Canada saw net outflows of USD9.80 million in August, bringing net outflows for 2018 to USD4.89 million, again substantially less than the USD12.1 million in net inflows at this point last year.
A high proportion of net inflows during August can be attributed to the top 20 ETFs by net new assets, which collectively gathered USD2.03 billion. The iShares S&P/TSX 60 Index Fund ETF (XIU CN) gathered USD507 million, the largest net inflow in August.