Outflows from municipal bond mutual funds persisted for a 32nd straight week.

Muni bond funds that report flows weekly recorded outflows of $1.47 billion for the week of Jan. 1, down from $1.49 billion in the week prior, Lipper FMI numbers showed.

The number of consecutive weeks of outflows, as well as their overall amount, surpasses those of the last great exodus from muni bond funds that occurred back between late-2010 and early 2011.

Assets for all muni funds that report their flows fell to $269.1 billion, from $270.1 billion for the week ended Dec. 25.

The value of the holdings for weekly reporting funds rose by $549 million. The previous week they declined by $220 million.

The four-week moving average for all municipal bond mutual funds that report their flows weekly was $1.64 billion of outflows, compared with $1.50 billion of outflows the week before.

Long-term muni bond funds that report flows weekly continue to shoulder the bulk of the hemorrhaging; they recorded outflows of $1.23 billion for the week ended Jan. 1. The week before, those funds reported outflows of $1.15 billion.

Weekly reporting high-yield muni bond funds had outflows of $362 million on the week, a slight improvement from the $382 million they registered one week earlier.

Assets for high-yield funds that report their flows weekly slipped for an eighth consecutive week to $33.72 billion, from $33.94 billion the week before.

The value of the holdings for high-yield funds rose by $142 million, against a decline of $14 million the previous week.

The four-week moving average for all high-yield municipal bond funds that report their flows weekly showed $365 million of outflows, versus $324 million of outflows the previous week.

 

James Ramage is a reporter for The Bond Buyer covering municipal bond investing and investors.