Municipal Bond Funds See Strong Inflows As Retail Money Funds Lose Out
Created: Monday, 15 October 2012 07:14
On the other hand, money funds lost $1.38 billion with retail money funds
losing $2.9 billion in assets.
The four-week moving average of inflows to muni funds increased to $579 million last week from $555 million the week before.
Long-term funds saw the large increases with high yield funds maintaining the lead they have had for 43 of the last 46 weeks.
Investors are likely seeking tax-free or tax-deferred investments to prepare for the anticipated tax hikes that will result of current tax laws are allowed to expire.
The fiscal cliff
is hanging in the wings of the upcoming presidential election and will be the next big challenge when Congress reconvenes for its final session of the year.
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