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.
Access to authoritative analysis and perspective and our data-driven report series.
No credit card required. Complete access to articles, breaking news and industry data.
Have an account? Sign In