TITLE

Inflow Brings Tax-Free Assets to Record $361.4B

AUTHOR(S)
Fine, Jacob
PUB. DATE
August 2006
SOURCE
Bond Buyer;8/11/2006, Vol. 358 Issue 32443, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the financial performance of tax-free money market funds in the U.S. According to iMoneynet Inc., assets of the funds have increased by $61.51 billion to an all-time high of $361.42 billion. Increase of demand for both retail and institutional funds by $3.67 billion and $2.84 billion, respectively, has driven the inflows. Moreover, a decline of 14 basis points in the average weekly yield of the fund to 2.90 percent on annual basis accompanied the inflows.
ACCESSION #
22056348

 

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