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INVESTMENT COMPANY INSTITUTE REPORTS ON ASSETS OF MONEY MARKET MUTUAL FUNDS

 INVESTMENT COMPANY INSTITUTE REPORTS ON ASSETS
 OF MONEY MARKET MUTUAL FUNDS
 WASHINGTON, Jan. 16 /PRNewswire/ -- Assets of the nation's 588 money market mutual funds rose by $9.19 billion to $499.31 billion for the week ended Wednesday, Jan. 15, the Investment Company Institute reported today.
 "Once again, institutional money market funds accounted for most of the change in total money market fund assets," said Dr. Jacob S. Dreyer, vice president and chief economist at the institute. "The big inflow occurred despite a substantial drop in yields."
 "Managers of institutional portfolios, anticipating further easing of yields on direct money market instruments of very short maturities, sought to lock in the yield advantage inherent in the slight lengthening of money market fund portfolios," Dreyer said. "The slide in bond prices over the last week provided an additional motivation to switch some monies out of bond portfolios and into money markets."
 The 218 institutional funds grew by $5.33 billion to $174.33 billion; the 281 general-purpose funds rose by $1.77 billion to $178.07 billion; and the 89 broker-dealer funds increased by $2.08 billion to $146.92 billion.
 Assets of money market mutual funds for the week ended the previous Wednesday, Jan. 8, were not revised.
 ICI reports the assets of money market funds to the Federal Reserve Board each week and makes this data available to the public on a weekly basis. The institute also reports monthly on two broad categories of funds: (1) short-term funds, which include taxable and tax-free money market funds, (2) all other funds, such as stock, income, corporate bond and municipal bond funds.
 -0- 1/16/92
 /CONTACT: John Collins of the Investment Company Institute, 202-293-7700/ CO: Investment Company Institute ST: District of Columbia IN: FIN SU: ECO


TW -- DC028 -- 0717 01/16/92 16:45 EST
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Publication:PR Newswire
Date:Jan 16, 1992
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