TITLE

Institutional Redemptions Drive $2.85B Outflow

AUTHOR(S)
Fine, Jacob
PUB. DATE
March 2005
SOURCE
Bond Buyer;3/18/2005, Vol. 351 Issue 32093, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that tax-free money market funds had a net outflow of $2.85 billion during the week ended as their total assets sank to $325.02 billion, iMoneyNet Inc. reported. The losses were largely driven by redemptions from institutional investors, who pulled a net $2.02 billion from the funds, according to the Westborough, Massachusetts-based fund tracker. Meanwhile, taxable money market funds suffered a $12.81 billion net outflow during the weekly reporting period ending, also due primarily to institutional investors, who drained the funds of a net $10.3 billion.
ACCESSION #
16488354

 

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