Canada's asset management industry growth outpaced the U.S. and global industry, while net sales of Canadian exchange-traded funds exceeded net sales of mutual funds.
Total assets managed in Canada reached $3.6 trillion as of Dec. 31, 2020, a 14% increase over the previous year, according to a news release Monday from Research and Markets announcing its new report, "Canada Asset Management Market – Growth, Trends, COVID-19 Impact and Forecasts (2022-2027)."
The new report forecasts 9% annual growth for Canadian assets over the next five years due primarily to the growth in retail investments and the growing sophistication of retail investors, the news release said.
The U.S. and global numbers were not provided in the news release.
The news release also said Canadian ETF net sales reached $41.5 billion in 2020, well over the $18.7 billion recorded in 2019, and it represented the second year that ETF net sales exceeded mutual fund net sales. In 2020, mutual fund net sales reached $31 billion, compared with $7.8 billion in 2019.
The news release also said the report, which measured ETF and mutual fund activity in 2019, shows ETFs net sales surpassed mutual fund net sales for the first time that year, with $18.7 billion compared with $7.8 billion for mutual funds.
