News Release

IFIC Monthly Investment Fund Statistics to Remove ETF of ETF Double Counting

March 17, 2022 (Toronto) – The Investment Funds Institute of Canada (IFIC) today announced that exchange-traded fund (ETF) asset and sales data will be reported with the removal of ETF of ETF double counting on a go-forward basis. IFIC’s February 2022 statistics news release, to be issued next week, will reflect this change.

ETF of ETF double counting occurs when a Canadian-listed ETF invests in units of other Canadian-listed ETFs. The removal of ETF of ETF double counting reflects an evolution in IFIC’s data collection and reporting capabilities. A similar adjustment was made in 2007, when IFIC removed mutual fund of mutual fund double counting.

The effect of the removal of ETF of ETF double counting is a reduction in ETF assets of approximately $25.7 billion, or 7.5%, as at February 28, 2022. The February 2022 statistics release will also include an adjustment applied to January 2022 data.

Any references to IFIC ETF asset and sales data prior to 2022 should indicate that the data has not been adjusted for ETF of ETF double counting.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together approximately 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.

For more information please contact:

Pira Kumarasamy
Senior Manager, Communications and Public Affairs
pkumarasamy@ific.ca
416-309-2317