Municipal bond funds

Mass exodus from the market has forced managers to dump securities to raise cash, sending prices tumbling the most in at least four decades.

I am advising some clients to ladder maturities to lock in more dependable tax-free income streams — especially for those in states with high income taxes, like California.

Although roughly 40% of the actively managed industry beat their indexes, the worst-performers eked out an average gain of just 1.07%.

The actively managed fund will incorporate ratings from independent research that measures investments’ impact on society.

Geospatial data may assist the muni industry with monitoring the economic impact of wildfires or natural disasters, an expert says.

Nearly all of the fixed-income funds held short term debt.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

“Not every muni is trying to achieve the same thing,” an expert says.

“The combination of low rates, curbs on state and local tax deductions, and consistent economic expansion have been a nice tailwind,” an analyst says.

Angst over the Fed’s decision to lower borrowing costs has seeped into the $3.8 trillion market for municipal bonds.

Just five asset managers hold about 80% of the new money added to the municipal-bond market this year.

Defined-maturity funds offer traditional fixed-income interest payments.

Activist investors have taken large stakes in at least 100 of the products so far this year.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

The funds include a wide range of offerings from emerging markets to precious metals, multi-strategy and REITs.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.