Money Fund Assets Set Another Record

fund assets climbed to $674.2 billion in the week ending May 31, according to the Investment Company Institute. The run-up in assets - which exceeded the revised $673.21 billion level achieved the previous week - affected money market funds of all types. The nation's 688 retail money market funds held $476.24 billion, a $2.62 billion increase over the previous week. The total includes $381.66 in taxable funds and $94.58 billion in tax-exempt funds. Institutional funds, however, closed the week with $197.96 billion, a drop of $1.62 billion from the previous week. The taxable funds in this category held $173.67 and the tax-exempts held $24.29 billion. The ICI reports the assets of money market funds to the Federal Reserve Board each week and makes this information available to the public.