Muni funds that report their figures weekly attracted $1.12 billion in cash
from investors during the week ended June 3, according to AMG Data
Services.Investors have stuffed cash into muni funds every week this year,
lately at a record pace. A weekly infusion of more than $1 billion in cash was
once unusual for the industry. It is now commonplace.Investors have entrusted at least $1 billion to muni funds for five straight weeks. Before this year, weekly inflows exceeded $1 billion only 10 times, according to AMG data reaching back to the early 1990s.The data excludes certain fund families that report their figures monthly. For all municipal funds, including the monthly reporters, money is coming in at a rate of $1.78 billion a week, based on a four-week moving average.While this figure is down slightly from the record $1.83 billion pace
last week, it remains far higher than any time in history.Source: http://www.financial-planning.com/
news/muni-funds-make-history-2662202-1.html
Monday, June 8, 2009
The Debts of the Spenders: Muni Funds Report More Inflows For Early June
Quite frankly, I am puzzled by the eagerness to continue ploughing money into these funds. Despite public talk of record state and municipal budget deficits, investors are apparently unfazed. The only other conclusion I can come up w/is that well heeled investors are suspicious of rumored Obama tax increases.
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