Assets in U.S. money market mutual funds grew by 0.16% to $763.98 billion for the week ending Jan. 3, according to the Investment Company Institute.

The weekly growth in money market assets was fueled by gains in both retail and institutional portfolios.

Assets in the nation's 699 retail funds increased by $966.7 million to $533.71 billion during the week. That gain came despite an outflow of assets in taxable retail accounts totaling $627.6 million. Assets in tax- exempt retail funds gained $1.59 million during the week.

Meanwhile, assets in the 304 institutional money funds jumped by $279.3 million, to reach $230.28 billion. A gain of $1.61 billion in tax-exempt institutional funds more than offset the decline of $1.33 billion in taxable accounts during the week.

The investment institute, based in Washington, reports the assets of money market funds to the Federal Reserve Board each week and makes the data available to the public.

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