Net Outflows in 2004 Sink Tax-Exempt Assets to $327.7B

Fine, Jacob
February 2005
Bond Buyer;2/2/2005, Vol. 351 Issue 32062, p6
Trade Publication
The article informs that municipal bond mutual funds shrank in 2004 with a net outflow of $13.68 billion, making it their third worst year on record, the Investment Co. Institute reported. Total assets in municipal bond funds ended the year at $327.7 billion, according to the ICI. While interest rates ended the year almost unchanged, investors feared they would rise, causing the funds to incur principal losses, according to Bryan Baitey, a senior vice president and portfolio manager at Waddell & Reed Investment Management Co. in Shawnee Mission, Kansas.


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