However, mutual funds still posted net sales, marking positive figures for the whole of the third quarter and for five of the first nine months of 2024. September net sales were recorded by bonds with $2.3 billion (this asset class has been positive every month this year) and specialty with $396 million.
Mutual fund assets gained $40.5 billion or 1.9% month-over-month to almost $2.9 trillion.
ETFs
Meanwhile, ETFs continued to gain with net sales of $5.5 billion in September, escalating from the $4.3 billion recorded in August.
All major asset classes gained, led by equity ETFs with $2.7 billion net sales, followed by $1.5 billion for bonds, $698 million for money market funds, $372 million for balanced, and $283 million for specialty.
ETF assets gained by $14.5 billion or 3.1% over the month to $478.5 billion. Sales and market performance has driven ETF assets up by $96.5 billion, or 25.3% year to date.