Amid worries that the markets still aren't bouncing back as readily as many investment professionals would like and a greater focus on intermediary sales, advertising spending by mutual fund companies continued to slide dramatically in the first quarter of this year from the comparable period a year ago.

Fund complexes spent $35.6 million to promote their products and services between January and March 31 of this year, a 70% decline from the year-ago period, when advertisers spent $117 million, according to Competitrack, a New York firm that analyzes advertising spending. However, the figure is down only 4% from the fourth quarter of last year when fund advertisers spent $37.2 million.

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