Foreigners Invest in New Fannie Mae Funds
From United Press International
TOKYO —
The U.S. Federal National Mortgage Assn. said it has raised $701 million, mostly in Japan, through two new mutual funds issued primarily for investment in mortgage securities.
David O. Maxwell, chairman of the association known as Fannie Mae, said about 90% of the fund came from Japanese institutional investors but investors in Hong Kong and France also participated.
