The Regional Wealth Landscape: From Recovery to Growth
The pandemic had an uneven impact on household finances across Canada. While many families were affected by unemployment, others managed to save and invest more than ever before. The recently published 15th biennial edition of the Household Balance Sheet (HBS) examined in detail the financial outcomes of the pandemic on households as well as its effect in amplifying regional wealth patterns that have been previously observed and its implications for future household demand for financial services.
The October issue of Insight explores these recent developments in provincial trends, focusing on mutual fund sales and asset growth across the country. The report examines the supply side of investments based on regional mutual fund sponsor data and incorporates recent insights from the 2021 HBS on the demand from investors for these products. The fund sponsor rankings by assets and net new money for each region are included at the end of the section. The Trendlines article documents the growth and demand for retail deposits since the start of the year.