Institutional investors of municipal bonds beef up holdings

04/12/2010 | Bond Buyer (free content), The

Vanguard Group, Franklin Templeton Investments and other big institutions that own municipal bonds added to their holdings last year as the debt of state and local governments emerged as a preferred asset. Vanguard bolstered its holdings to $79.8 billion, overtaking Franklin Templeton as the largest institutional holder of municipal bonds. Many factors, including overall growth in the market, helped institutional ownership increase in 2009

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Bond Buyer (free content), The