Karl Cheong: It was another record breaking year for Canadian ETFs. We saw about $16 billion of flows into Canadian ETFs. That surpasses the previous record of about $12 billion in 2012. We also saw about $400 billion of flows globally. So we saw investors focusing on low-cost international and fixed-income ETFs, especially amid the carnage we've seen here in our Canadian equity markets. So it was really a good time to be in the ETF business despite the tumultuous year we had in 2015.
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