The assets of the country's money market mutual funds grew 1.81%, to $1.232 trillion, in the week ending Aug. 5, the Investment Company Institute reported.
The growth in the assets of 437 institutional money market funds outpaced that of retail funds, according to the Washington trade group.
Institutional money market fund assets rose 2.1%, to $483.3 billion. The total includes $437.06 billion in taxable portfolios, up $8.28 billion, and $46.24 billion in tax-exempt portfolios, up $1.67 billion.
The assets of 593 retail money market funds increased by 1.6%, to $749.19 billion. Taxable portfolios held $610.81 billion, up $9.37 billion. Tax-exempt portfolios held $138.38 billion, up $2.78 billion.