Money Fund Assets Jump
ICI's latest "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets increased by $15.49 billion to $2.638 trillion for the week ended Wednesday, August 21, the Investment Company Institute reported today. Taxable government funds increased by $10.50 billion, taxable non-government funds increased by $3.24 billion, and tax-exempt funds increased by $1.75 billion." Money fund assets rose for the third week in a row and for the 9th week out of the past 12 weeks; assets are up $75 billion since May 1, with over half, $41 billion, coming from retail funds. ICI's release adds, "Assets of retail money market funds increased by $7.31 billion to $931.03 billion. Taxable government money market fund assets in the retail category increased by $1.74 billion to $200.12 billion, taxable non-government money market fund assets increased by $4.16 billion to $534.89 billion, and tax-exempt fund assets increased by $1.41 billion to $196.01 billion. Assets of institutional money market funds increased by $8.18 billion to $1.707 trillion. Among institutional funds, taxable government money market fund assets increased by $8.76 billion to $719.96 billion, taxable non-government money market fund assets decreased by $920 million to $914.03 billion, and tax-exempt fund assets increased by $340 million to $72.80 billion."
