Mutual fund assets rise by $37B in July

Total mutual fund assets under management for July 2016 were $1,304 billion, compared to $1,267 billion in the previous month, says IFIC’s latest industry overview report.

For the same period, total net sales were $2.6 billion, down compared to net sales of $1.5 billion for the previous month.

Additional details

• Long-term fund net sales totaled $2.6 billion in July 2016, and have reached $32 billion over the last 12 months.
• Money market fund net sales were $2 million in July, and net redemptions have reached $483 million over the last twelve months.
• Balanced funds’ net sales in July 2016 totaled $2.2 billion, compared to net sales of $1.7 billion last month.
• Bond funds’ net sales in July 2016 totaled $1.1 billion, compared to net sales of $783 million last month.
• Equity funds’ net redemptions in July 2016 totaled $641 million, compared to net redemptions of $768 million last month.

Staff

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