Diminishing assets during this protracted Wall Street slump have apparently prompted fund companies to diminish their advertising of equity funds, according to analysts and preliminary data from an advertising tracking agency.

Advertising spending from mutual fund companies offering equity products dipped from $43 million during the first quarter of last year to $35.3 million in this year's first quarter, a decline of 17%, according to data provided by Competitrack. In addition, spending nose dived 19% for the second quarter this year, from $33 million during last year's second quarter to $27.6 million this year, the data show.

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