Money market funds rise by $6.87bn in latest week: ICI

WASHINGTON: The Investment Company Institute on Thursday issued the following money market mutual fund assets report:

"Total money market mutual fund assets increased by $6.87 billion to $2.644 trillion for the week ended Wednesday, September 7, the Investment Company Institute reported today. Taxable government funds increased by $440 million, taxable non-government funds increased by $4.66 billion, and tax-exempt funds increased by $1.76 billion.

Retail: Assets of retail money market funds decreased by $1.23 billion to $943.57 billion. Taxable government money market fund assets in the retail category decreased by $250 million to $192.76 billion, taxable non-government money market fund assets decreased by $2.05 billion to $555.73 billion, and tax-exempt fund assets increased by $1.07 billion to $195.08 billion.

Institutional: Assets of institutional money market funds increased by $8.10 billion to $1.700 trillion. Among institutional funds, taxable government money market fund assets increased by $690 million to $665.90 billion, taxable non-government money market fund assets increased by $6.72 billion to $932.82 billion, and tax-exempt fund assets increased by $690 million to $101.59 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. Historical weekly money market data back to January 2008 are available on the ICI website."

Copyright Reuters, 2011