Canada’s mutual fund industry plays an important role in the economy, with assets under management of about $920 billion. This briefing describes Conference Board research that asked: What is the mutual fund industry’s total contribution to the economy? The analysis went beyond assessing direct impacts to quantify the substantial supply chain and induced impacts.
The analysis found that in 2012 the mutual fund industry directly contributed $5.8 billion to Canada’s economy and directly employed over 63,000 full-time workers. However, when supply chain and induced impacts are included, the impact roughly tripled: to $17 billion and 192,600 jobs, respectively. The briefing also notes the industry’s contribution to primary household income, corporate profits, and government revenues.