June marked the fifth straight net capital outflow, as investors added $9B of foreign exposure, more than offsetting ~$700M of foreign inflows to Canada.

Canadian investment abroad was largely equities driven, with $5.7B heading south of the border and $2.5B spread across other international equity markets…

… while Canadian equity markets continued to struggle, losing $3B of foreign capital in June and over $40B YTD.

Canadian paper still has a bid though, this time carried by demand for private debt - with nearly $8B of inflows after more than $20B of outflows in the prior two months.