ETF sales rebound in October

Sales were up in all asset classes

ETF sales rebounded in October, according to data from the Investment Funds Institute of Canada.

Net sales of ETFs reached $3.8 billion, up from $562 million in September — a month that saw more than $1 billion in redemptions from equity funds.

Sales were up in all asset classes, with equity ($1.9 billion) and bond ($1.1 billion) funds leading the pack.

Total ETF assets hit $192.3 billion at the end of the month.

Mutual fund net sales were flat in October, reaching $1.3 billion.

Sales in bond ($1.7 billion), specialty ($722 million) and balanced ($593 million) mutual funds were offset by $1.7 billion in redemptions from equity funds.

Mutual fund assets totalled $1.59 trillion at the end of October.