The Globe and Mail reports in its Thursday edition that investors poured more than $38-billion into exchange-traded funds in 2023, a significant divergence from the $52-billion that came out of mutual funds in the first 11 months of the year as cash ETFs dominated investor interest. The Globe's Clare O'Hara writes that the Canadian ETF industry has 41 providers managing $380-billion in assets, a sliver of the $1.9-trillion sitting in the mutual fund industry. Yet, similar to the trend in 2022, ETFs heavily outsold mutual funds in 2023 as mutual-fund investors pulled out money for nine consecutive months. TD's head of ETF sales and strategy, Andres Rincon, wrote in his annual report that 2023 was one of the best years for ETF sales in Canada. "It was a year where inflows did not disappoint despite a tough investing environment and in great contrast to the large outflows seen by mutual funds," Mr. Rincon said. "This past year, not only the traditional passive equity ETF saw [sales], but also fixed-income ETFs and actively managed ETFs, which gained significant traction throughout the year." Most of the surge in sales came from fixed-income products, which brought in $21.3-billion, including cash and money market ETFs.