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Rating:New York Life Chalks Up $5 Billion of Mutual Fund Sales Not Rated 2.0 Email Routing List Email & Route  Print Print
Wednesday, August 11, 2010

New York Life Chalks Up $5 Billion of Mutual Fund Sales

Reported by Armie Margaret Lee

New York Life executives said Wednesday morning that mutual fund sales in the first six months of the year totaled more than $5 billion. Of that figure, more than $4 billion of sales came through third-party distribution channels.

Chris Blunt
New York Life Investments
EVP in charge of Retirement Income Security
Fund sales are up 55 percent over the year-ago period, according to company officials.

New York Life sponsors the MainStay line of mutual funds.

"We continue to have good success with our Third Party distribution strategy, complementing our core distribution system of career agents," said Chris Blunt, executive vice president in charge of retirement income security, in a news release.

"Our ability to achieve this was helped by the strong line-up of funds managed by our investment management subsidiary," he said. 

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