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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, April 9 /PRNewswire/ -- Assets of the nation's 591 money market mutual funds rose by $13.71 billion to $500.34 billion for the week ended Wednesday (4/8), the Investment Company Institute reported today.
 The 215 institutional funds grew by $11.69 billion to $173.89 billion; the 285 general-purpose funds rose by $958.8 million to $179.62 billion; and the 91 broker-dealer funds rose by $1.07 billion to $146.83 billion.
 "This week's rise in money market fund assets reversed almost exactly the previous week's decline," said Dr. Jacob Dreyer, vice president and chief economist of the Institute. "As usual, institutional funds accounted for most of the fluctuations caused by last week's sharp rise of the Fed funds rate, followed by its equally sharp retreat. Reversing the general trend of the last few weeks, assets of the general purpose and the broker/dealer funds experienced a nice rise, most likely caused by increased exchanges out of equity funds when stock prices dove on Monday and Tuesday," Dreyer said.
 Assets of money market mutual funds for the week ended Wednesday (4/1) were revised slightly, to $486.63 billion, and the decrease was revised to $13.24 billion. The revisions were made because of a reporting error in the institutional funds.
 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- 4/9/92
 /CONTACT: Malin Jennings of the Investment Company Institute, 202-293-7700/ CO: Investment Company Institute ST: District of Columbia IN: FIN SU:


DC -- DC040 -- 6945 04/09/92 16:37 EDT
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Publication:PR Newswire
Date:Apr 9, 1992
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