U.S. money market funds have climbed to a record $2.73 trillion in assets, according to the Money Fund Report, published by http://www.imoney.net. According to the report, institutional investors put in $19 billion into taxable funds in July and August, while retail investors withdrew from government and prime funds. Total taxable assets grew by about $8.6 billion to about $2.3 trillion.Tax-free investments by both retail and institutional investors grew by about $1.4 billion to $425 billion, also a new high. News of the report was first published by Reuters.
Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.
Insight and analysis into the management, marketing, operations and technology of the asset management industry.
Have an account? Sign In