ICI Reported Rise In Money Market Mutual Funds

By IVCPOST Staff Reporter

Jul 06, 2013 04:48 AM EDT

The Investment Company Institute (ICI) issued a report for money market mutual funds assets:

"Total money market mutual fund assets increased by $12.20 billion to $2.613 trillion for the week ended Wednesday, May 29, the Investment Company Institute reported today. Taxable government funds increased by $6.85 billion, taxable non-government funds increased by $6.24 billion, and tax-exempt funds decreased by $900 million."

For the retail industry, they reported: "Assets of retail money market funds increased by $1.52 billion to $895.16 billion. Taxable government money market fund assets in the retail category decreased by $20 million to $193.43 billion, taxable non-government money market fund assets increased by $990 million to $513.86 billion, and tax-exempt fund assets increased by $550 million to $187.87 billion."

For the institutional sector: "Assets of institutional money market funds increased by $10.68 billion to $1.718 trillion. Among institutional funds, taxable government money market fund assets increased by $6.87 billion to $717.89 billion, taxable non-government money market fund assets increased by $5.26 billion to $929.61 billion, and tax-exempt fund assets decreased by $1.45 billion to $70.68 billion."

ICI is the reporting body for money market funds for the Federal Reserve.

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