Mutual funds saw net sales take a sharp decline from the $9.8 billion in net sales posted in February and the $13 billion of March 2021.
This downturn was seen across all major asset classes, led by redemptions of $524 million for bonds, deepening the $155 million redemptions of February. In March 2021, net sales for bonds were positive at $155 million.
Sales weakened for equity funds ($1 billion compared to $4.6 billion in February), balanced funds ($212 million, down from $5 billion), and specialty ($132 million, down from $241 million).
Total long-term fund net sales were $820 million with net assets of $1.98 trillion.
Net sales for ETFs were up from $4 billion in February and were just $200 million below the March 2021 total.