February was a strong month for Canadian ETFs, says National Bank’s Pat Chiefalo in a recent report.
Read: North American ETF flows dip, for more on January results
Along with research associates Daniel Straus and Ling Zhang, he finds the ETF market was up by $363 million or 0.6%. In fact, “All asset classes except commodit[ies] had inflows [last month]…ETF assets in Canada closed the month just $95 million shy of the $65 billion milestone,” says the report.
Delving deeper, the report finds that “fixed income ETFs [grew by] $167 million in the month. Equity flows were [also] positive at a healthy $138 million [of inflows] despite large redemptions from Canadian equity” funds.
Read: ETF market grew in 2013
In the U.S., ETF flows were up by US$19.3 billion or 1% in February. The report says, “Fixed income kicked into high gear with US$14 billion [of] inflows…The demand for bonds was driven by U.S. Treasuries.”
Also, “equities were positive but muted, with [only] US$3.4 billion” of inflows.” Commodity and multi-asset funds were up 1% and 3%, respectively.