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Money Fund Assets Hit Record High $2.5 Trillion in Latest Week Says ICI. For the third straight week, money market mutual fund assets set a new record high, totalling $2.5 trillion for the first time. Assets have risen by over $60 billion in May so far, and by $116 billion, or 5%, year-to-date. Over the past 52 weeks, money fund assets have surged $403 billion, or 19.2%. For the week ended May 23, money funds gained $11.6 billion to $2.498 trillion, said the ICI's weekly release. Institutional assets grew $7.1 billion to $1.482 trillion and retail assets grew $4.6 billion to $1.016 trillion. Money funds continue to attract both retail and institutional cash from banks, bonds, hedges that have failed, and other asset classes due to the magnetic allure of 5% risk-free returns.
