Assets of money market mutual funds edged up to $623.08 billion in the week that ended Nov. 22, the Investment Company Institute reported.

The 0.03% gain, from $622.88 billion the preceding week, was fueled by inflows to retail money funds.

Retail funds closed the week with $443.95 billion of assets, a $2.8 billion increase. Taxable funds held $349.89 billion of the total, up $2.5 billion, while tax-exempt funds held $94.06 billion, a $294.6 million rise.

Assets of money funds for institutional investors slipped $2.6 billion, to $179.13 billion.

That figure includes $155.87 billion in taxable funds, down $2.24 billion in the week, and $23.27 billion in tax-exempt funds, a $357.8 million decline.

-- Debra Cope

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