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Money Mkt Fund Assets Fall in Latest Week; Grow $77.3 Billion in July. The Investment Company Institute's latest weekly asset figures show a decrease of $13.14 to $2.764 trillion for the week ended August 29. Retail funds fell by $3.96 billion and institutional funds fell by $9.18 billion. Money funds normally see seasonal outflows at month-end and due to back-to-school spending. Separately, ICI's monthly "Trends in Mutual Fund Investing: July 2007" shows money market fund assets grew by $77.3 billion in July to a record $2.615 trillion, or 23% of all mutual fund assets. ICI tracks 565 taxable money funds with $2.209 trillion and 263 tax-free money funds with $406.2 billion. YTD, money funds have grown by $260.4 billion, or 11%. Stock funds continue to hold record low 3.5% cash levels.
