Although fund companies increased their advertising spending slightly by 3% between the first and second quarters of this year, marketing consultants said they were surprised by the gains and that companies would likely cut their ad spending drastically during the second half of the year. They also emphasized that compared to figures for last year, advertising spending is still down considerably.

Fund complexes spent $36.7 million on advertising in the second quarter, up from $35.9 million in the first quarter but down 50% from the second quarter of last year, when fund companies spent $72 million, according to New York advertising research firm Competitrack.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.