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Sunday, October 25, 2020

Muni debt funds proceed to draw new buyers: Refinitiv Lipper (MUTF:USMSX)

Municipal mutual funds and ETFs skilled internet optimistic flows of $614M for the fund-flows week ended Wednesday, Oct. 14, persevering with a longer-term development, in response to Refinitiv Lipper.

Tax-exempt bond funds have now introduced in internet new cash in 22 of the final 23 weeks, bringing in $43.5B because the finish of Q1, stated Pat Keon, senior analysis analyst at Refinitiv Lipper.

The inflows characterize a bounce-back from the outflows of $26.1B from muni debt funds in Q1, helped by the Fed’s April announcement that it might purchase as much as $500M in short-term municipal debt to stabilize the market.

Specializing in the fund degree, 12 funds took in additional than $1B in internet new cash since Q1’s finish; Vanguard funds accounted for 4 of the 5 prime internet optimistic flows — Vanguard Intermediate-Time period Tax Exempt Fund ($3.8B), Vanguard Quick-Time period Tax-Exempt Fund ($3.4B), Vanguard Restricted-Time period Tax Exempt Fund ($2.7B), and Vanguard Tax-Exempt Bond Index  Fund ($2.3B).

JPMorgan Extremely-Quick Municipal Fund (MUTF:USMSX) had a internet consumption of $2.4B.

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