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INVESTMENT COMPANY INSTITUTE REPORTS INCREASE IN MUTUAL FUNDS ASSETS

 WASHINGTON, Jan. 6 /PRNewswire/ -- Assets of the nation's 651 retail money market mutual funds increased by $4.82 billion to $397.99 billion for the week ended Wednesday, Jan. 5, the Investment Company Institute (ICI) reported today. Assets of the 404 taxable money market funds in the retail category rose by $1.78 billion to $308.03 billion; the 247 tax-exempt funds' assets increased by $3.03 billion to $89.96 billion.
 Assets of the 280 institutional money market funds increased by $96.5 million to $189.88 billion for the same period. Among institutional funds, the 226 taxable money market fund assets fell by $1.22 billion to $166.64 billion; assets of the 54 tax exempt funds rose by $1.32 billion to $23.25 billion.
 Total money market mutual fund assets stood at $587.87 billion for the week ended Wednesday, Jan. 5.
 Assets of money market mutual funds for the week ended Wednesday (Dec. 29) were revised to $582.96 billion. The revisions are due to reporting errors and a change in the number of funds reporting.
 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 three broad categories of funds. They are: (1) short-term funds which include tax-exempt money market funds, (2) taxable retail and institutional money market funds, and (3) all funds other than money market funds -- such as stock, income, corporate bond and municipal bond funds.
 -0- 1/6/94
 /CONTACT: John Collins of the Investment Company Institute, 202-326-5864/


CO: Investment Company Institute ST: District of Columbia IN: FIN SU:

DT-DC -- DC030 -- 9924 01/06/94 17:23 EST
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Publication:PR Newswire
Date:Jan 6, 1994
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