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 flow of cash into the funds decreased in July.

According to the Investment Company Institute, Ginnie Mae mortgage funds gained a total of $534.9 million in net new sales for July, down from $660.9 million in new sales for June and $778.3 million of new sales in July 1998.

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