Money Market Funds Reach $2.73 Trillion

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.