Money Fund Assets at $3.9 Trillion
ICI Reports Money Market Mutual Fund Assets at $3.9 Trillion. Money fund assets continued their tear in the latest week, rising $54.7 billion to a record $3.895 trillion. Retail money fund assets grew $13.2 billion to $1.368 trillion, while Institutional assets grew $41.5 billion to $2.527 trillion. General Purpose (Prime) Institutional funds led the surge, rising $23.0 billion to $1.128 trillion. Government Inst assets rose $12.5 billion to $1.205 trillion and Tax Exempt Inst assets rose $6.0 billion to $194.2 billion. Prime Retail jumped $7.6 billion to $800.3 billion; Govt Retail fell $694 million to $260.5 billion; and Tax Exempt Retail jumped $6.3 billion to $307.2 billion. Also, see Reuters UK's "Credit crunch takes shine off money market funds".
