Income remains the key word for Canadian investors these days.
Investors put a net $716-million into Canadian exchange traded funds (ETFs) last month, representing a 1 per cent increase in total assets. More than half of that amount, $460-million, went into fixed income funds, according to Pat Chiefalo, of National Bank Financial.
Among the most popular income funds were Bank of Montreal’s Aggregate Bond fund , Horizons Exchange Traded Funds Inc.’s Preferred Share fund , which more than doubled in size, and BlackRock’s iShares U.S. High Yield Bond fund .
Although equity and commodity themed ETFs saw little new inflow, two funds stood out: BMO’s Canada Titans 60 , growing 14 per cent, and Horizons’ S&P/TSX 60 , expanding 18 per cent, Mr. Chiefalo said in a report.
The largest outflows from a single fund came from BlackRock’s iShares S&P/TSX 60 Index Fund (formerly under the Claymore brand). This fund is a favourite of large institutional investors, Mr. Chiefalo notes.