ETF Investors Change Direction
Investors in Canadian exchange-traded funds (ETFs) changed direction in August, preferring equities to fixed income, says the National Bank of Canada (NBC). Equity ETFs gained $1.1 billion inflows, a significant pivot from July when the category saw net outflows of $717 million. Canadian equity ETFs posted net inflows of $813 million in August, compared to the $1 billion pull-back seen in the previous month. There were smaller gains for the U.S. ($28 million) and international ($244 million) categories. The appetite for fixed income ETFs fell in August to $258 million inflow, following the $1.7 billion net inflows in July.