Despite redemptions, industry assets rose by $15.5 billion
Long-term funds recorded net redemptions of $4 billion
Mutual funds sales slump reflects investors’ risk-averse mentality
Year-to-date sales well below 2017
Bond and equity funds posted net redemptions even as industry assets continued to rise
The industry recorded net sales of $772 million, reversing June’s net redemptions of $466 million
Balanced funds and bond funds post net redemptions
Sales were down compared to February and one year ago
Declining financial markets trimmed industry assets under management
Net sales for the mutual funds industry climbed to $4.9 billion in January