November 25, 2010 |
Investors pulled a net $4.78 billion from tax-free municipal bond mutual funds in the seven days ended Nov. 17, about 1% of total fund assets, as falling bond prices and rising yields depressed muni fund share values. The outflow, reported Wednesday by the Investment Company Institute, was the biggest in at least three years and followed the turmoil that rocked the muni market beginning in late October. A rise in market interest rates in general and a surge in the supply of new muni bonds from California and other issuers drove prices of some muni bonds down sharply from Oct. 25 through early last week.
April 11, 2010 |
It's been the best of times for bond investors. Could it soon be the worst? Bond mutual funds, many of which performed spectacularly last year, churned out solid returns in the first three months of this year, with all bond fund categories posting gains. Individual investors haven't lost their recent love for the sector. After pumping a net $375 billion into bond funds last year as an alternative to the capricious stock market and low-yielding money market funds, they shoveled $54 billion more into bond portfolios in January and February.
April 7, 1992 |
Bond mutual fund investors mostly suffered losses in the first quarter, as rising market interest rates cut into the value of older bonds, according to figures released Monday by fund tracker Lipper Analytical Services. Funds that own long-term Treasury bonds were hit hardest. General Treasury bond funds dropped an average of 3.38% for the quarter, Lipper said. Bond results are reported as "total" returns, meaning interest earnings plus or minus the change in the bonds' values.
August 6, 1997 |
The house built by bonds, Pacific Investment Management Co., launched three bond funds Tuesday, including an emerging market bond fund. The Pimco Emerging Markets Bond Fund, which is managed by Newport Beach-based Pacific Investment, will be offered to both retail and institutional investors. The fund will require a minimum investment of $1,000, says the Pimco Funds Distribution Co. Pimco has more than $99 billion in assets under management and is one of the largest bond managers in the U.S.
July 8, 1994 |
When all is said and done about bond mutual fund owners' miserable first half, more will probably be said than done: Inertia being a strong force, most fund shareholders will probably keep the funds they own. But if the thought of another large decline in your fund's principal value is too much to bear, the variation in bond funds' first-half returns shows that you do have options. Compare, for instance, the relative performance of funds that own long-term U.S.
October 22, 2003 |
Securities regulators have told mutual fund companies to disclose more clearly when their "U.S. government" bond funds invest heavily in mortgage- related bonds, such as those from Freddie Mac and Fannie Mae. The Securities and Exchange Commission called for the added disclosure after congressional criticism that investors may be confused by titles and assume that government-bond funds are 100% invested in securities backed by the Treasury.