The overall flow of cash into mutual funds largely made up of mortgage securities from the Government National Mortgage Association decreased considerably in August 2000, the latest month available.
According to the Investment Company Institute, Ginnie Mae mortgage funds lost $354.8 million in new sales for August, compared to a loss of $106.7 million in sales for July and a gain of $685.9 million in August 1999.
Total assets for August were $56.01 billion, down from $56.02 billion in July but down from $60.39 billion a year earlier.
Other Ginnie Mae mutual fund data released for August included the following:
Total sales, including reinvested dividends, were $837.4 million, up from $736.7 million in July and down from $1.685 billion in August 1999.
Total sales, less reinvested dividends, were $592.8 million, up from $521.7 million in July and $1.477 billion in August 1999.
Redemptions were $1.192 billion, up from $843.3 million in July and $999.5 million a year earlier.
Exchanges into the funds were $591.8 million, up from $531.6 million in July and $469.1 million in August 1999.
Exchanges out of the funds were $714.7 million, up from $548.3 million in July and $618.6 million a year earlier.
Liquid assets were minus-$6.01 billion, up from minus-$6.2 million in July and down from minus-$5.3 billion in August 1999.
Liquidity ratios were minus-10.7%, up from minus-11.1% in July and down from minus-8.8% a year earlier.
