ETFGI reported that assets invested in ETFs/ETPs listed in Canada reached a new record of $92bn at the end of Q1 surpassing the prior record of $90.61bn set at the end of February 2017, according to data from ETFGI’s Q1 2017 global ETF and ETP industry insights report.
At the end of March 2017, the Canadian ETF industry had 478 ETFs, with 650 listings, assets of $92bn, from 20 providers on 2 exchanges.
“Investors have favoured equities over fixed income and commodities as equity markets have performed positively in March and in the first quarter of 2017. The S&P 500 gained 0.1% in March and 6.1% during the first quarter. International equity markets performed strongly in March and in the first quarter with the international markets ex US up 2.6% in March and 7.5% in Q1 and emerging markets up 2.1% in March and 11.1% in Q1. With the first round of the French elections looming, European volatility expectations increased,” according to Deborah Fuhr, managing partner and a founder of ETFGI.
ETFs and ETPs listed in Canada gathered net inflows of $1.58bn in March. Year to date, net inflows stand at $4.93bn a record level for Q1. At this point last year there were net inflows of $4.16bn.
Equity ETFs/ETPs saw net inflows of $440m in March, bringing year to date net inflows to $2.32bn, which is greater than the net inflows of $2.29bn over the same period last year.
Fixed income ETFs and ETPs experienced net inflows of $631m in March, growing year to date net inflows to $1.35bn, which is less than the same period last year which saw net inflows of $1.51bn.
Commodity ETFs/ETPs saw net outflows of $40m in March. Year to date, net outflows are at $30m, compared to net inflows of $109m over the same period last year.
BMO AM gathered the largest net ETF/ETP inflows in March with $643m, followed by Vanguard with $280m and Mirae Horizons with $210m net inflows.
In Q1, BMO AM gathered the largest net ETF/ETP inflows with $2.17bn, followed by Vanguard with $761m and iShares with $577m net inflows.