More than $9 billion flowed into money market mutual funds in the week that ended March 8, the second-largest gain this year, the Investment Company Institute reported.
The rise, to $652.27 billion, affected all categories of assets: taxable and tax-exempt funds for retail and institutional investors.
Retail money market funds held $460.7 billion, up $5.85 billion in the week. That includes $364.13 billion in taxable funds, up $4.06 billion, and $96.57 billion in tax-exempt funds, a $1.79 billion gain.
Institutional funds climbed to $191.57 billion, a $3.57 billion increase. Taxable funds held $167.13 billion, up $2.43 billion. Tax-exempt funds totaled $24.44 billion, a $1.14 billion rise.