Assets under management (AUM) for the mutual funds industry totalled $1.48 trillion for the month ending Dec. 31, 2017, reveals an IFIC report.

AUM decreased by $6.7 billion or 0.4% compared to November 2017, “a result of declines in the markets,” says IFIC in a release.

Read: MFDA to advisors: We’re watching your recommendations

Net sales for the mutual funds industry were $1.4 billion for December. Net sales of long-term funds were $1.1 billion, and net sales of money market funds were $340 million.

Since December 2016, total mutual fund assets have increased by $138.3 billion or 10.3%.

Read the full IFIC report.

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