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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, Dec. 19 /PRNewswire/ -- Assets of the nation's 583 money market mutual funds declined by $3.37 billion to $484.74 billion for the week ended Wednesday, Dec. 18, the Investment Company Institute reported today.
 The 217 institutional funds decreased by $438.7 million to $163.88 billion; the 278 general-purpose funds dropped by $1.90 billion to $176.77 billion; and the 88 broker-dealer funds decreased by $1.04 billion to $144.09 billion.
 "As yields offered by taxable money market funds continue their long downward drift, individuals find the yield advantage of bond funds increasingly alluring", said Dr. Jacob Dreyer, vice president and chief economist for the Investment Company Institute. "But this gradually widening yield advantage of longer term instruments has so far had only moderate dampening effect on assets of money market funds which, despite last week's decline, remain at the near-record level."
 Assets of money market mutual funds for the week ended the previous Wednesday, Dec. 11, were revised slightly, to $488.11 billion, and the increase was revised to $6.84 billion. The revisions reflect 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 limited maturity municipal bond funds, (2) money market funds, and (3) all funds other than short-term funds -- such as stock, income, corporate bond and municipal bond funds.
 -0- 12/19/91
 /CONTACT: Malin Jennings of the Investment Company Institute, 202-293-7700/ CO: Investment Company Institute ST: District of Columbia IN: FIN SU: ECO


MK -- DC027 -- 4124 12/19/91 17:25 EST
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Publication:PR Newswire
Date:Dec 19, 1991
Words:305
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