(wire)
Muni funds see increase in investors
Municipal funds that post their figures weekly reported $676.1 million in new money from investors during the week ended July 7, according to Lipper FMI.
Propelled by $1.28 billion of market gains last week, the municipal fund industry's assets now exceed $500 billion for the first time.
This followed a $232.3 million outflow the previous week, which was just the third since the end of 2008.
All municipal funds, including those that report their figures monthly, have been posting inflows at a pace of $296.8 million a week, based on the four-week moving average.
Propelled by $1.28 billion of market gains last week, the municipal fund industry's assets now exceed $500 billion for the first time.
This followed a $232.3 million outflow the previous week, which was just the third since the end of 2008.
All municipal funds, including those that report their figures monthly, have been posting inflows at a pace of $296.8 million a week, based on the four-week moving average.
