Mutual funds industry AUM increases 14%

The mutual funds industry experienced some healthy gains this year. Assets Under Management (AUM) increased year-to-date (YTD) by $121.5 billion, or 14.3%, reports IFIC.

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“For the month of October 2013, AUM for the mutual fund industry was $971.2 billion,” says Jon Cockerline, IFIC’s director, Policy & Research. “Net sales for the mutual fund industry totalled $1.70 billion. Net sales of long-term funds were $2.04 billion and net redemptions of money market funds were $345.1 million.”

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Here are IFIC’s additional findings.

• Balanced funds’ net sales in October totalled $2.10 billion, compared to $1.68 billion last month. YTD net sales for balanced funds totalled $33.7 billion, compared to $23 billion last year.
• Bond funds’ net redemptions totalled $1.51 billion, compared to $1.36 billion in September. YTD that figure is $2.55 billion, compared to $16.3 billion last year.
• Equity funds’ net sales totalled $1.20 billion, compared to $910.3 million last month. YTD net sales for equity funds totalled $4.16 billion, compared to net redemptions of $11.5 billion for the same period last year.

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