Net redemptions from municipal bond funds totaled $930 million in the latest reporting week, making it the biggest week for outflows since April, AMG Data Services figures show. The tally for the week ended Oct. 26 helped bring to $4 billion the amount of investor cash that has left the funds since mid-September, according to AMG Data president Robert Adler. "Mid-September was when the string of out-flows began," he said, adding that the $4 billion of redemptions represents "the largest net redemptions [for a seven-week] period since we began tracking the information in 1990." The redemptions took placed from the week ended Sept. 14 through the week ended Oct. 26, Adler said.
AMG now tracks data from 1,617 municipal funds.