TITLE

Muni Funds Take a Turn for the Worse in April, With $337M Lost

AUTHOR(S)
Fine, Jacob
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/4/2003, Vol. 344 Issue 31649, p36
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
For the first time in 2003, municipal bond mutual fund flows turned negative in the United States as they lost a net 337 million dollars in April, according to the Investment Company Institute, though other more preliminary figures indicate a comeback in May. Net exchanges of mutual fund shares within fund complexes caused a small additional net loss of six million dollars in April compared to a 457 million dollar loss in March. Sales of new shares in the funds totaled 64.605 billion dollars in April, up from 59.529 billion dollars in March but a bit down from 65.270 billion dollars in April 2002. Total redemptions were up to 71.269 billion dollars in April from 59.405 billion dollars in March, but slightly trailed the 74.376 billion dollar total in April 2002.
ACCESSION #
10014743

 

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