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
FRITS will accelerate industry group’s reporting and analysis capabilities
Mutual fund sales rose by 47% to $44.2 billion in 2017 while total AUM rose by 10.3% to $1.48 trillion
Investors exit bond funds
Net sales of bond and balanced funds show improvement
Despite the decline in overall net sales, equity funds enjoyed a solid turnaround during the month
Despite the weakening sales picture, mutual fund industry assets under management climbed by $8.3 billion