Money market mutual fund assets continued to hurtle skyward in the week that ended Oct. 4, reaching $739.5 billion, the Investment Company Institute reported.

The 1.1% increase, from $731.14 billion on Sept. 27, affected every category of money market funds - taxable and tax-exempt, retail and institutional.

On the retail side, assets rose $5.24 billion in the week, to $520.14 billion.

That includes $419.13 billion in taxable retail funds, up $3.18 billion, and $101.02 billion of tax-exempt retail funds, up $2.06 billion.

Institutional money market funds pulled in $3.12 billion to close the week at $219.36 billion.

Taxable institutional funds held $194.14 billion, a $1.83 billion increase. Tax-exempt institutional funds held $25.21 billion, up $1.29 billion.

The institute, a Washington-based trade group, bases its findings on a weekly survey of 988 money market funds.

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