Fund Assets Pass $766B Mark on Modest Gains in Portfolios

Money market mutual fund assets increased 0.16% to $766.39 billion for the week ending Dec. 13, the Investment Company Institute reported.

The rise in assets was fueled by modest gains in both retail and institutional portfolios.

Assets in the nation's 670 retail portfolios increased by $1.1 billion to reach $538.48 billion for the week.

Assets in taxable retail funds rose by $1.47 billion to $435.38 billion, while tax-exempt retail funds fell by $374.4 million to $103.1 billion.

Meanwhile, assets of the 304 institutional funds increased by $199 million to close the week at $227.91 billion.

Taxable portfolios gained $624.1 million to $202.75 billion. Tax-free funds fell by $425.1 million to $25.15 billion.

The investment institute, based in Washington, reports the assets of money market funds to the Federal Reserve each week.

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