Municipal bond mutual funds attracted another giant slug of cash from investors last week as the industry remained a magnet for retail investor interest.
Investors entrusted $1.12 billion to muni funds that report their figures weekly during the week ended May 6, according to AMG Data Services.
This was the second-heaviest weekly inflow in three years. Two weeks earlier, muni funds attracted $1.13 billion, the fattest inflow since 2006.
Muni funds have now attracted inflows in 19 straight weeks.
Assets at all muni funds, including those that report their figures monthly, shot up to $382.94 billion from $376 billion a week earlier.
Funds reported $3 billion in market appreciation following a strong week in the muni market.
