Long-term funds gather almost $2 billion in net sales
Long-term fund sales strong
Sixth straight month of asset growth
Fund assets rise 2%
But preliminary data reveal that investors are drifting out of money market funds and back into long-term funds
Nearly $2 billion flows into long-term funds in June
Industry assets up 9.7% in second quarter
Fourth consecutive month of asset growth
The four funds will then be terminated later this year because of the high costs associated with their management
Assets under management grow for third-straight month