Money market mutual fund assets increased for an unprecedented 11th straight week, gaining $22.64 billion to a record $3.451 trillion, according to the Investment Company Institute. Retail money funds gained $3.66 billion to a record $1.240 trillion while Institutional money funds gained $18.98 billion to a record $2.210 trillion.

Money fund assets have increased by $304 billion, or 9.7%, year-to-date, and they haven't decreased since Dec. 19's modest $3.6 billion outflow. Since August 1, money funds show just three weeks with declines -- including a $24 billion month-end outflow 10/31 and an 8/29 month-end $14.4 billion outflow. Money funds have averaged $27.1 billion a week in inflows over this 32-week period, gaining a record-shattering $866.5 billion, or 33.2%. Over the past 52 weeks, money funds have increased by a spectacular $1.018 trillion, or 41.9%.

Both general purpose, or "prime", money fund assets and tax exempt assets rebounded following two weeks of outflows. Prime institutional funds increased $7.8 billion in the week and have increased by $125 billion YTD. Prime retail funds inched up $803 million and have increased by $47 billion YTD. Government retail funds have increased by $23 billion YTD and government institutional funds have increased by $102 billion YTD. Tax exempt money funds grew by $2.6 billion (institutional) and $2.4 billion (retail) in the latest week, and assets have increased by $6.9 billion YTD.

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