Money market fund assets increased by more than $36 billion during the week ending Wednesday, Nov. 7, after falling $11 billion the previous week, according to the Investment Company Institute. Total money market assets now stand at $2.302 trillion.
The majority of the increase was seen in institutional money market funds, which rose $33.93 billion, bringing total assets in the category above $1.2 trillion, according to the ICI. Specifically, taxable money market funds, which account for 93% of institutional money market assets, rose $31.3 billion.
On the retail side, the increase, albeit slight, was seen in tax-exempt fund assets, which rose $2.22 billion, the ICI reported. Taxable money market retail fund assets decreased by 125.4 million.