Both mutual fund and ETF AUM increased last month
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