The only mutual fund asset class to record a negative figure was equities, but at $746 million the net redemptions were well below October’s $1.3 billion pull-back. Net sales for balanced funds were $357 million, down from $1.8 billion in October and specialty funds recorded $1.11 billion (down from $1.14 billion).
Overall, mutual funds had their second-largest monthly net sales of the year.
Mutual fund assets totalled $2.543 trillion at the end of November, up by $23.0 billion or 0.9% since October.
For ETFs, recorded their second-largest monthly net sales not just for the year, but ever. The total of $12.9 billion was up from $9.9 billion in October.
Almost all asset classes saw net sales, with all improving on their prior month totals, except for balanced funds which totalled $1.22 billion (down from $1.27 billion) and speciality at $988 million (down from $1.4 billion).