Canadian ETFs Collect Inflows
Canadian exchange-traded funds (ETFs) saw $7 billion of inflows in March, says a National Bank of Canada report. Fixed income ETFs accounted for almost half of the inflows at $3.3 billion, led by long-term bonds, aggregate bonds, and money market categories. Equity ETFs had inflows of $3.7 billion with international and Canadian equity funds favoured with $2.5 billion and $1.8 billion respectively. U.S. equity funds posted withdrawals of more than $500 million. There were also notable withdrawals from both cryptocurrency and commodity ETFs. Cryptos outflows, despite more favourable prices for Bitcoin, accelerated to $287 million, while commodity ETFs saw $34 million redeemed despite gold prices nearing $2,000 per ounce.