Mutual fund sales rose by 47% to $44.2 billion in 2017 while total AUM rose by 10.3% to $1.48 trillion
Investors exit bond funds
Net sales of bond and balanced funds show improvement
Despite the decline in overall net sales, equity funds enjoyed a solid turnaround during the month
Despite the weakening sales picture, mutual fund industry assets under management climbed by $8.3 billion
Mutual funds industry assets under management slip to $1.4 trillion
Overall mutual industry net sales through the first half of 2017 were almost double what they were a year ago, according to IFIC data
Total industry net sales were $26 billion for the five months ended May 31 compared with $15.1 billion in the same period last year
Total net sales rose by 70% during the first four months of 2017 compared with the same period a year earlier, IFIC reports
Although balanced funds are still providing the majority of net sales, equity funds are showing signs of life while bond funds are also up