January 9, 2019 / 8:33 PM / a month ago

U.S. money fund assets hit highest since 2010 - iMoneyNet

NEW YORK, Jan 9 (Reuters) - U.S. money market fund assets increased for a fifth straight week to their highest level since early 2010, as investors further raised their cash pile due to recent market volatility, a private report released on Wednesday showed.

Assets of money market funds, which are seen as nearly as safe as bank accounts, jumped $35.62 billion to $3.029 trillion in the week ended Jan. 8. This marked the first time that money fund assets surpassed $3 trillion since the week ended March 9, 2010, according to the Money Fund Report published by iMoneyNet. (Reporting by Richard Leong; Editing by Richard Chang)

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