Money Mkt. Mutual Fund Assets Explode in June, Up $40 Billion in Week. The Investment Company Institute reported that money market mutual fund assets skyrocketed in the first week June, rising $39.85 billion to an all-time record $2.526 trillion. Though money fund asset flows are volatile and heavily dependent on calendar and seasonal effects, this was one of the strongest weeks ever. Institutional money funds continued their Q2 surge with a $31 billion increase, breaking above the $1.5 trillion level for the first time ever. Money fund assets have increased by $411 billion over the past 52 weeks (19.6%), and have increased by $144.2 billion (6.2%) year-to-date in 2007. Money funds are taking market share from brokerage sweep programs, bank deposits, and other asset classes as investors realize that 5% yields may be here for awhile.

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