The IFIC has released statistics for net sales and assets under management for the month of October.
In general, while there were gains in assets under management in terms of year-on-year and year-to date timeframes, losses were seen over the shorter term. Total net AUM for the industry, composed of long-term funds and short-term funds, in October was at $1,318 billion, a shade under September’s $1,319.6 billion. Still, it’s still higher than the $1,231.1 billion at the beginning of the year, and $1,225.4 industry total for AUM in October 2015.
Dissecting the industry by category showed bright spots, as the AUM for funds-of-funds increased in October compared to September. Similarly, the AUM for bond funds, balanced funds, and short-term funds increased slightly from September to October.
The picture shown by net sales figures is different. October’s total industry net sales of $1.99 billion exceeded the $1.89 billion record in September, but it was dismal to the $3.08 billion achieved in October 2015. YTD net sales in October was $25.8 billion, less than October 2015’s YTD net sales of $52.9 billion.
In terms of specific categories, the same downward month-on-month trend generally held, with balanced funds and bond funds being the exceptions.
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