Assets invested in money market mutual funds jumped 1.08%, to $1.2098 trillion, in the week that ended July 22, the Investment Company Institute reported.
The across-the-board increase was most pronounced in funds for institutional investors. Their assets rose 1.33%. to $474.79 billion. in the week. The total includes $430.08 billion in taxable portfolios, up $5.79 billion, and $44.71 billion in tax-exempt portfolios, up $413 million.
Balances of funds for retail investors rose 0.93%, to $735.01 billion. Taxable portfolios held $598.80 billion, a $6.59 billion increase for the week. Tax-exempt portfolios held $136.20 billion, up $182 million.
The institute bases its findings on a weekly survey of 1,030 money market funds.