TITLE

Cash Influx Boosts Tax-Free Funds to Record Size

AUTHOR(S)
Fine, Jacob
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/10/2004, Vol. 350 Issue 32027, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on a survey conducted by Massachusetts-based fund tracker Westborough showing rise in tax-free money market funds in November 2004. Tax-free money market funds had a net inflow of $8.59 billion during the week ended Monday as their total assets rose to $324,24 billion. Inflows were likely due primarily to the large municipal coupon and redemption payments that typically occur on December 1, 2004 and are deposited into money market funds temporarily. Yields on taxable funds however increased three basis points to 1.43%.
ACCESSION #
15342100

 

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