Assets in the nation's money market mutual funds rose slightly last week in spite of a falloff in funds flowing into institutional portfolios.
For the week ended Sept. 27, assets in money funds reached $732.57 billion, a $240 million jump from the previous week, according to the Investment Company Institute, the Washington-based trade group of the mutual fund industry.
Assets of the nation's 688 retail money market funds increased by $992.7 million, to $515.9 billion. While taxable funds rose by $1.68 billion for the week, tax-exempt portfolios fell $682.7 million.
Assets in the 300 institutional portfolios declined by $759 million, a loss due to the $894 million falloff in taxable institutional funds. Tax- free institutional portfolios showed a sign gain in assets.