Despite subprime woes and credit crunch complications, money-market mutual-fund assets increased by $2.48 billion to $3.113 trillion in the week ended Wednesday, up from an adjusted $3.111 trillion, according to the Investment Company Institute.
Assets of the 842 retail-class shares increased by $5.42 billion to $1.161 trillion, according to an institute report. Among retail-class shares, assets of the 546 taxable shares increased by $2.42 billion to $878.31 billion, and assets of the 296 tax-exempt shares increased by $3 billion to $282.46 billion.
Assets of the 1,161 institutional-class shares decreased by $2.94 billion to $1.952 trillion. Among institutional-class shares, assets of the 901 taxable shares increased by $3.6 billion to $1.775 trillion, and assets of the 260 tax-exempt shares decreased by $6.54 billion to $177.39 billion.