TITLE

Tax-Exempts Hit Record Heights as Taxables Continue to Struggle

AUTHOR(S)
Fine, Jacob
PUB. DATE
September 2004
SOURCE
Bond Buyer;9/10/2004, Vol. 349 Issue 31966, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that tax-free money market funds had a net inflow of $4.32 billion during the week ended Monday as their total assets soared to a record high $308.69 billion. Taxable money market funds often function as sweep accounts that investors utilize to shift money in and out of stocks. Shareholders in municipal funds meanwhile tend to be more focused on maintaining tax-exempt returns, and their shifting in and out of the funds thus tends to be more closely tied just to their portfolio of municipal investments with longer-term maturities.
ACCESSION #
14387388

 

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