The overall flow of cash into mutual funds largely made up of mortgage securities from the Government National Mortgage Association continued to decrease in December 1999, the latest month available.

According to the Investment Company Institute, Ginnie Mae mortgage funds lost $413.3 million in new sales for December, compared to a loss of $293.5 million in sales for November and a gain of $398.5 million in December 1998.

Total assets for December were $60.17 billion, down from $61.3 billion in November $60.8 billion a year earlier.

Other GNMA mutual fund data released for December included the following:

Total sales, including reinvested dividends, were $1.18 billion, up from $780.9 million in November and down from $1.46 billion in December 1998.

Total sales, less reinvested dividends, were $866.4 million, up from $565.1 million in November and down from $1.17 billion in December 1998.

Redemptions were $1.6 billion, up from $1.074 billion in November and $1.069 billion a year earlier.

Exchanges into the funds were $455.9 million, down from $819.8 million in November and $644.9 million in December 1998.

Exchanges out of the funds were $638.8 million, down from $826.9 million in November and $666.6 million a year earlier.

Liquid assets were minus-$5.43 billion, up from minus-$5.8 billion in November and down from minus-$4.04 billion in December 1998. Liquidity ratios were minus-9.0%, up from minus-9.0% in November and down from minus-6.6% a year earlier.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.