Assets of money market mutual funds jumped 2.38%, to $1.3987 trillion, in the week that ended Jan. 6, the Investment Company Institute reported.
The across-the-board rise was concentrated in portfolios for institutional investors. Assets of these funds rose 3.66%, to $568.98 billion. That includes $519.18 billion in taxable funds, up $17.10 billion, and $49.80 billion in tax-exempt funds, down $2.98 billion.
On the retail side, assets rose 1.53%, to $829.73 billion. Taxable funds held $681.51 billion, up $7.69 billion. Tax-exempt funds held $148.22 billion, up $4.78 billion.
It was the largest gain since the first week of October. A spokesman for the institute said the rise was consistent with seasonal patterns.
Investors, especially institutions, typically yank assets from money funds in the last week of each year and return it in the first week of the new year.
In the week that ended Dec. 30, the outflow from institutional money funds was $20 billion, matching this week's inflow.