Investors seemed to lose some of their faith in mutual funds largely made up of mortgage securities from the Government National Mortgage Association, as the overall flow of cash into the funds dropped in August, the latest month available.

According to the Investment Company Institute, Ginnie Mae mortgage funds gained a total of only $683.7 million in net new sales for August, down from a gain of $907.1 million in July but up from $413.6 million in August 1998.

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