Assets invested in money market mutual funds jumped 1.34%, to $1.0818 trillion, in the week that ended Dec. 3, the Investment Company Institute reported.
The increase, which affected all categories of money funds, was most pronounced in portfolios for institutional investors. These funds held $377.16 billion, up 2.18% in the week. That includes $337.07 billion in taxable funds, up $5.39 billion, and $40.09 billion in tax-exempt funds, up $2.67 billion.
On the retail side, money fund assets rose 0.89%, to $704.61 billion. Taxable funds held $577.98 billion, up $3.55 billion, and tax-exempt funds totaled $126.63 billion, up $2.68 billion.
The institute, a Washington-based trade group for mutual fund companies, bases its findings on a weekly survey of about 1,000 money market funds.