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The Investment Funds Institute of Canada (IFIC) on Nov. 25 announced investment fund net sales and net assets for October 2024.
Mutual fund assets totalled $2.189 trillion at the end of October, up by $3.3 billion, or 0.2%, since September. Mutual fund net sales were $3.6 billion in October.
ETF assets totalled $486.8 billion at the end of October, up by $8.3 billion, or 1.7%, since September. ETF net sales were $8.2 billion in October.
October insights
View the full report on IFIC’s website.
IA Clarington Investments Inc. on Nov. 21 announced the launch of the IA Clarington Multi-Strategy Alternative Pool, a liquid alternative fund designed to provide investors with enhanced downside protection and attractive long-term total return potential.
Managed by iA Global Asset Management, the fund provides one-ticket access to six actively-managed alternative strategies:
In a release, iA Clarington said the fund aims for consistent performance through all market cycles while minimizing volatility, downside risk, and correlation to traditional asset classes. The fund is diversified across a variety of alternative investment strategies, managers, and investment types, and aims for strategic allocation as well as risk oversight in a single.
Desjardins Investments Inc. on Nov. 18 debuted five new funds, including three target-maturity investment-grade bond funds.
The funds aim to provide regular income while offering capital stability by investing primarily in quality fixed-income securities issued by Canadian corporations on the Canadian market that will mature in 2025, 2026 or 2027, when each fund will be closed.
In addition, Desjardins is launching two new global equity funds
Desjardins Global Opportunities Fund invests primarily in equity and equity-related securities of companies from around the world, including in emerging markets. The fund’s portfolio is designed to reflect the fund manager's outlook on the macroeconomic environment, market valuations, and investor sentiment.
Desjardins Fundamental Global Equity Fund invests primarily in equity and equity-related securities of companies from around the world, including in emerging markets. The fund uses fundamental analysis to select securities from quality companies capable of maintaining long-term growth and potentially increasing their valuation.
Dynamic Funds on Nov. 15 announced the launch of three new ETF series of existing mutual funds, which will be listed on the Toronto Stock Exchange (TSX) today, to provide greater access to advisors and investors.
ETF series are now available for Dynamic Global Fixed Income Fund (TSX: DXBG), Dynamic Short Term Credit PLUS Fund (TSX: DXCP), and Dynamic Credit Opportunities Fund (TSX: DXCO). Dynamic Short Term Credit PLUS Fund and Dynamic Credit Opportunities Fund are liquid alternative mutual funds.
SEI on Nov. 14 debuted its SEI Liquid Alternative Fund in Canada. The U.S. version has US$1.3 billion in assets under management. The fund seeks to approximate the total return of a model portfolio of alternative investment strategies that primarily consists of hedge funds (the Composite).
The Composite consists of two components: a multi-strategy sleeve and a managed futures sleeve. SEI generally expects to maintain an approximate 60/40 weighting between the multi-strategy sleeve and the managed futures sleeve, respectively, but may increase or decrease a sleeve's weighting. The managed futures sleeve will consist of derivative instruments that, in the aggregate, are designed to reflect the return profile of a third-party index that consists of 20 equally weighted, large managed futures funds. The multi-strategy sleeve seeks to approximate the average total return of the 50 largest hedge funds (excluding managed futures funds), equally weighted.
Canada Life Investment Management Ltd. on Nov. 15 announced plans to merge three mutual funds in its Counsel Portfolios lineup, subject to unitholder approval.
Terminating fund investors of record as of Dec. 5, 2024, will receive a notice of meeting of investors to be held on or about Jan. 22, 2025. If approved, the mergers are expected to be executed on or about Jan. 31, 2025.
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The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.
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