Money Funds Top $5 Billion

Total money market mutual fund assets increased by $5.84 billion to $2.568 trillion for the week ended Wednesday, October 17, according to data from the Investment Company Institute.

Assets of institutional money market funds increased by $6.78 billion to $1.682 trillion. Among institutional funds, taxable government money market fund assets decreased by $2.08 billion to $668.39 billion, taxable non-government money market fund assets increased by $8.89 billion to $933.10 billion, and tax-exempt fund assets decreased by $30 million to $80.75 billion.

However, retail money market funds dropped $940 million to $886.05 billion with tax-exempt funds leading the way with $1.17 billion in redemptions to $187.67 billion.