Another record for mutual fund redemptions as ETF sales soar

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Total mutual fund assets decreased by $18.6 billion or 1.0% in May, to just below $1.9 trillion in May compared to slightly above that amount in April.  

ETFs soaring

Meanwhile, ETFs saw strong growth in May, building on the momentum of the previous month.

Net sales of $2.6 billion were driven by equity funds (net sales of $1.6bn), specialty ($593m), money market funds ($347m), and balanced funds ($229m). There were net redemptions for bond ETFs ($235m).

ETF assets totalled $310.9 billion at the end of May 2022, having increased by $0.9 billion or 0.3% compared to April 2022.