Money market funds rise by $60 million in latest week-ICI

Fri Aug 24, 2012 1:04am IST

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Aug 23 (Reuters) - The Investment Company Institute on Thursday issued the following money market mutual fund assets report:

"Total money market mutual fund assets increased by $60 million to $2.574 trillion for the week ended Wednesday, August 22, the Investment Company Institute reported today. Taxable government funds decreased by $14.10 billion, taxable non-government funds increased by $14.47 billion, and tax-exempt funds decreased by $310 million.

Retail: Assets of retail money market funds increased by $1.12 billion to $887.70 billion. Taxable government money market fund assets in the retail category decreased by $150 million to $186.79 billion, taxable non-government money market fund assets increased by $750 million to $511.51 billion, and tax-exempt fund assets increased by $510 million to $189.41 billion.

Institutional: Assets of institutional money market funds decreased by $1.06 billion to $1.686 trillion. Among institutional funds, taxable government money market fund assets decreased by $13.95 billion to $673.45 billion, taxable non-government money market fund assets increased by $13.72 billion to $929.43 billion, and tax-exempt fund assets decreased by $820 million to $83.09 billion.

ICI reports money market fund assets to the Federal Reserve each week. Revisions are due to data adjustments, reclassifications, and changes in the number of funds reporting. Weekly money market assets for the last 20 weeks are available on the ICI website."

NOTE: ICI's Web site is www.ici.org

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