Banks better than most in fund sales
Mutual fund sales slipped last year, but the banking industry, a relative beginner in the business, did only half as badly, a consultant's report shows.
Preliminary data from 85 banking companies tracked by Kenneth Kehrer Associates in Princeton, N.J. indicate that sales dropped 17% last year from 1998 levels to $38.2 billion. That compares to an industry-wide 35.8% drop to $145.5 billion, according to Boston research firm Financial Research Corp. T
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