Assets invested in money market mutual funds jumped 0.9%, to $940.14 billion, in the week that ended Jan. 22, the Investment Company Institute reported.
Gains were concentrated in portfolios for institutional investors. Assets in these funds climbed 2.9%, to $316.67 billion, during the week. That includes $285.05 billion in taxable funds, up 3.1%, and $31.62 billion in tax-exempt funds, up 0.3%.
On the retail side, assets declined 0.06%, to $623.47 billion. Taxable portfolios were up 0.02%, to $507.58 billion. But tax-exempt funds fell 0.4%, to $115.89 billion.
The institute, a Washington-based trade group for mutual fund companies, bases its findings on a weekly survey of nearly 1,000 money market mutual funds.