Money Funds Assets Continue Steady Incline
December 7, 2012
The holidays have been good for money market funds.
Assets increased by $32.33 billion to $2.644 trillion for the week ended Dec. 5, thanks to a steady increase in money fund categories across the board, according to numbers from the Investment Company Institute.
Overall, retail assets went up $2.85 billion to $906.93 billion. Only taxable non-government money fund assets in the retail category decreased, falling to $518.78 billion from $520.01 billion the week ended Nov. 28. But retail taxable government assets rose by $380 million to $193.29 billion, and tax-exempt assets increased by $2.7 billion to $193.85 billion.
Total institutional money fund assets increased as well by $29.48 billion to $1.737 trillion. Taxable governmnt assets rose $11.04 billion to $692.42 billion, taxable non-government by $15.74 billion to $961.74 billion, and tax-exempt assets by $2.71 billion to $82.96 billion.