Lipper has revised its weekly municipal bond fund flows lower for the week ending Nov. 21 after an error with Goldman Sachs led the company to report higher flows.
For the week ending Nov. 21, inflows into municipal bond funds that report weekly were $1.1 billion down from the originally reported $1.8 billion. The discrepancy came from the Goldman Sachs Short Duration Tax Free series funds. The A-class — ticker GSDTX — moved 70% of its assets into the I-share class — ticker GSDUX — and the inflows were recorded but the outflows were not. The GSDTX saw a drop in assets to $320 million from $1.1 billion while the GSDUX saw an increase in assets to $3.87 billion from $3.1 billion, Lipper analysts said Tuesday.