The overall flow of cash into mutual funds largely made up of mortgage securities from the Government National Mortgage Association decreased considerably in November 1999, the latest month available.
According to the Investment Company Institute, Ginnie Mae mortgage funds lost $306.9 million in new sales for November, compared to a loss of $224 million in sales for October and a gain of $184 million in October 1998.
Total assets for November were $61.38 billion, up from $60.887 billion in October and $60.7 billion a year earlier.
Other Ginnie Mae mutual fund data released for October included the following:
Total sales, including reinvested dividends, were $780 million, up from $776.7 million in October and down from $915.7 million in November 1998.
Total sales, less reinvested dividends, were $568.2 million, down from $578 million in October and $717 million in November 1998.
Redemptions were $1.086 billion, up from $1.0billion in October and up from $731.7 million a year earlier.
Exchanges into the funds were $819.7 million, up from $494 million in October and down from $537.4 million in November 1998.
Exchanges out of the funds were $826.9 million, up from $495 million in October and $618.2 million a year earlier.
Liquid assets were minus-$5.813 billion, down from minus-$5.082 billion in October and minus-$4.62 billion in November 1998.
Liquidity ratios were minus-9.5%, down from minus-8.3% in October and minus-7.0% a year earlier.