The overall flow of cash into mutual funds largely made up of mortgage securities from the Government National Mortgage Association decreased considerably in June 2000, the latest month available.
According to the Investment Company Institute, Ginnie Mae mortgage funds lost $317.4 million in new sales for June, compared to a loss of $111.3 million in sales for May and a gain of $661.5 million in June 1999.
Total assets for June were $55.92 billion, up from $55.66 billion in May but down from $59.86 billion a year earlier.
Other Ginnie Mae mutual fund data released for June included the following:
Total sales, including reinvested dividends, were $660.2 million, down from $812.7 billion in May and $1.713 in June 1999.
Total sales, less reinvested dividends, were $443.2 million, down from $614.9 million in May and $1.5 billion in June 1999.
Redemptions were $977.6 million, up from $923.9 million in May and down from $1.051 billion a year earlier.
Exchanges into the funds were $723 million, down from $507.5 million in May and up from $716.6 million in June 1999.
Exchanges out of the funds were $734.1 million, up from $670.4 million in May and down from $879.1 million a year earlier.
Liquid assets were minus-$5.8 billion, up from minus-$5.9billion in May and down from minus-$4.9 billion in June 1999.
Liquidity ratios were minus-10.4%, up from minus-10.6% in May and down from minus-8.2% a year earlier.