BlackRock, Banks Dominate Canada ETF Sales in Record $41 Billion Year

BlackRock, Banks Dominate Canada ETF Sales in Record $41 Billion Year

Bloomberg

Exchange-traded fund providers enjoyed a record year in Canada, with BlackRock Inc., Vanguard Group Inc. and two of the country’s largest banks dominating the chase for investors’ money in 2021.

Total inflows came in at C$52.5 billion ($41.3 billion) for the year, a 27% increase from a year earlier, as retail and institutional investors continue to turn to ETFs for “tactical and strategic” reasons, National Bank Financial analyst Daniel Straus said in a report.

More than half of the new money went to three groups. Bank of Montreal’s ETF division topped the list with C$9.6 billion, slightly ahead of RBC iShares, an alliance between Royal of Bank of Canada and BlackRock. Vanguard was next with C$8.6 billion.

No other firm had net inflows of more than C$4 billion.