posted a return to profits in the second quarter 2009, but the global firm's U.S. mutual fund assets took a hit year-over-year.
Assets under management in U.S. retail mutual funds at the end of Q2 were $15.8 billion. This was a marked decline from asset levels at the end of Q2 2008, which were roughly $24.7 billion. Assets did, however, increase from the Q1 209 level of $14.5 billion. Q2 2009 sales for retail mutual funds reached $719 million, as compared to $1.56 billion in Q2 2008. Sales of institutional funds rose, however, from $980 million to $1.5 billion.
Similarly, institutional fund levels fell from $41.3 billion in Q2 2008 to $21.7 billion in Q2 2009.
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