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Globe says National Bank sees ETF investments soar

2024-12-27 08:53 ET - In the News

The Globe and Mail reports in its Friday edition that in a sign Canadians are making more of their own investing choices, do-it-yourself investors may soon hold a majority of exchange-traded fund assets. The Globe's Clare O'Hara writes that the amount of ETF assets in Canada surpassed the half-trillion-dollar mark in 2024, with $517-billion invested across 45 ETF providers, as of Nov. 30, according to National Bank Financial. That includes more than $65-billion of new money coming into the industry in the first 11 months of 2024. Rohit Mehta, chief executive officer of Global X ETFs Canada, said, "We've seen more and more Canadians motivated to participate in the recent bull market, especially through ETFs." In the first nine months of 2024, ETF assets in the discount brokerage channel grew by nearly 52 per cent, largely driven by DIY investors purchasing funds. ETF assets held in full-service brokerage accounts grew by only 31.5 per cent. About $174-billion of ETF assets are currently held at full-service brokerages, as of Sept. 30, while another $173.2-billion of ETF assets are held in on-line discount brokerages. That is up from the $114.2-billion that mainly younger DIY investors held a year prior.

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