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Bank Mutual Fund Sales Trending Up

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Banks and credit unions sold $10.3 billion in mutual funds in the third quarter, up from $7.5 billion in the same quarter of 2005.

Sales were down, however, from $10.9 billion recorded by financial institutions in the first quarter, according to Kehrer-LIMRA Inc., Windsor, Conn., which conducted the study, sponsored by Accessor Capital Management, Seattle.