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August 19, 2003 at 08:00 PM
NU Online News Service, Aug. 19, 2003, 3:53 p.m. EDT – U.S. bank sales of annuities rose to $3.1 billion in June, from $2.6 billion in June 2002, according to the monthly bank annuity sales survey conducted by Kenneth Kehrer Associates, Princeton, N.J.
The researchers who conducted the survey, which was sponsored by Invest Financial Corp., Tampa, Fla., say bank fund sales have increased sharply since they bottomed out late in 2002.
“Since December, monthly sales of long term mutual funds in banking institutions have increased 63%,” says Lynn Niedermeier, president of Invest.
