Investors Group today announced mutual fund sales of $446 million in May, countered by redemptions of $400.4 million. Net sales were, therefore, $45.6 million. Net sales of long-term funds were $39.5 million for the month.

These results compare to gross sales of $449.1 million, redemptions of $418.5 million and net sales of $30.6 million in May 2001, says IG. Net sales of long-term funds were $16.7-million in May 2001.

Year-to-date mutual fund net sales are $584.7 million compared to $526.5 million in net sales for the same period last year. This represents an increase of 11%, year-over-year.

Mutual fund assets under management were $41.75 billion at May 31, 2002. This represents a 0.7% decrease from $42.06 billion at April 30, 2002.