Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Muni Meltdown Hits OpFunds and Fido Hardest Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 10, 2013

Muni Meltdown Hits OpFunds and Fido Hardest

News summary by MFWire's editors

The horror. The horror.

The WSJ's Kelly Nolan assessed the damage done to the municipal bond fund market in June, and it is bleak. Investors pulled out $13.5 billion from mutual funds investing in municipal bonds. To look at the bigger picture, June's outflow is 2.2 percent of the $680.7 billion managed by municipal bond funds and the second largest monthly outflow of cash from that market on record, according to Lipper data, Nolan wrote.

Barclays municipal bond index had a negative return of 2.83 percent in June, the biggest loss since the fall of 2008, when the index had a negative total return as high as 4.69 percent. Vanguard[profile] has $100.6 billion in municipal bond assets and lost $2.3 billion, Nolan reported. OppenheimerFunds[profile], Fidelity[profile] Management & Research Co. and Nuveen[profile] Fund Advisors lost more than $1 billion in their municipal bond funds.

To read more, click here.  

Edited by: Casey Quinlan


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use