Assets invested in money market mutual funds jumped to $599.31 billion, a 0.43 % increase, in the week ending Aug. 10, the Investment Company Institute reported.
The gains were concentrated in funds for individual investors. Balances in these funds rose to $425.61 billion, a gain of $2.57 billion, or 0.60%.
Of that total, $333.23 billion was invested in taxable money market funds, up $2.86 billion in the week.
Balances of tax-exempt funds for retail investors dropped $295.1 million, to $92.38 billion.
On the institutional side, money market assets grew a negligible $6.8 million, to $173.7 billion.
The total includes $151.78 billion in taxable funds, up $261.7 million in the week, and $21.92 billion in tax-exempt funds, down $254.9 million.
-- Debra Cope
