U.S. muni funds report first outflows in 4 months

Thu Apr 12, 2012 5:17pm EDT

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(Reuters) - U.S. municipal bond funds reported $57 million of net outflows in the week ended April 11, the first outflow in more than four months, according to data released by Lipper on Thursday.

The previous week, with its net inflows of $63 million was the 18th straight week that investors moved money into municipal bond funds. The week ended November 30 marked the last net outflows, $297 million.

The four-week moving average remained positive, at $131 million, said Lipper, a unit of Thomson Reuters.

Flows into high-yield muni funds remained positive at $119.5 million, after inflows of $69 million the previous week. Exchange-traded muni funds, on the other hand, had another week of outflows, $8.3 million, compared to the $1.9 million outflows the previous week.

BondDesk Group data for the week ended April 11 showed retail investors bought 2.1 bonds for each one they sold, down from the 2.4 buy/sell ratio the previous week.

The total number of bonds bought was 52,654, while the number of bonds sold was 25,590. The data is based on odd-lot customer transactions.

(Editing by James Dalgleish)

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