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Kehrer: Bank Fund Sales Rise

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Bank mutual funds sales increased to $61 billion in 2006, up from $41 billion in 2005.

Researchers at Kehrer-LIMRA, Windsor, Conn., have published those results in a summary of a survey of 2 dozen U.S. banks.

Bank sales of mutual funds grew 50%, while bank sales of variable annuities grew just 22%, to about $22 billion.

The ratio of bank mutual fund sales to bank VA sales rose to $2.82 to $1, up from $2.30 to $1 in 2005, according to Kehrer-LIMRA.