ETFs attract more mutual-fund assets

Article Excerpt

Canadian-listed exchange-traded funds continue to attract assets previously invested in mutual funds. By the end of 2018, Canadian ETFs had assets under management of $157 billion, or 6.6% more than a year earlier. The value of ETF assets has also doubled over the past 3 years. By the end of 2018, the Canadian ETF universe had 660 listings. A total of 106 net new funds were launched during the year while five new managers joined the ranks of ETF providers. The most popular new fund launched in 2018 was the BMO Europe High Dividend Covered Call ETF (Toronto symbol ZWP), which attracted more than $1 billion in assets. The largest ETF provider in Canada remains BlackRock, with a 36% market share; this was down from 41% a year earlier. BMO is second with 31%. If you include Vanguard Canada, Horizons and RBC, the top five hold an 87% market share. The bulk of new inflows went to BMO and Vanguard; together they…

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