ING released its third quarter earnings report Wednesday, revealing that quarterly U.S. mutual fund sales decreased year-over-year, but with withdrawals over the same period.

Retail mutual funds sales totaled $791 million for quarter ended September 30, 2009, noticeably less than the nearly $1.2 billion from from Q3 2008.

Investors withdrew more this quarter than last, yet they withdrew more than a billion less than reported in Q3 2008. Outflows amounted to $382 million in Q3 2009, compared to $487 million in the third quarter of 2008.

ING's Mutual funds accounted for $16.9 billion AUM as of September 30, 2009. 

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