U.S.-based muni funds post first outflows since July '14 -ICI

April 15, 2015 5:07 PM

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By Sam Forgione NEW YORK, April 15 (Reuters) - Investors in U.S.-based mutual funds pulled $187 million out of municipal bond funds in the week ended April 8 as retail investors sought to raise capital to pay taxes, data from the Investment Company Institute showed on Wednesday.

The outflows occurred ahead of the April 15 U.S. tax filing deadline and marked the first weekly cash withdrawals from the funds since early July of last year, according to the data from ICI, a U.S. mutual fund trade organization. Municipal bonds are tax-exempt. "It's primarily related to taxes," sa...

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