Mutual fund sales drop in February

Assets under management (AUM) for the mutual fund industry declined in February to a total of $1.48 trillion, says an IFC report.

The AUM decreased by $4.6 billion, or 0.3%, compared with the month of January. The drop occurred because of “declines in the markets” said IFIC in a press release.

Total mutual fund assets have increased by $105.3 billion, or 7.7%, since February 2017.

Read: Continued growth expected for ETFs: report

Net sales for the mutual funds industry were $8.7 billion in February 2018. Net sales of long-term funds were $8.1 billion and net sales of money market funds were $632 million.

Read the full IFIC report.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.