Banks boosted the mutual fund assets they manage by 36.4%, to $755 billion, in the 12 months ended June 30, outpacing both the market and the fund industry at large, according to data prepared for American Banker.

The increase from $553 billion in mutual fund assets reported at midyear 1997 was fueled by acquisitions, a bull market in equities, and conversions of trust funds.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.