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INVESTMENT COMPANY INSTITUTE REPORTS ON ASSETS OF RETAIL MONEY MARKET MUTUAL FUNDS

 WASHINGTON, Nov. 24 /PRNewswire/ -- Assets of the nation's 651 retail money market mutual funds increased by $270.4 million to $398.13 billion for the week ended Tuesday, Nov. 23, the Investment Company Institute reported today. Assets of the 408 taxable money market funds in the retail category grew by $309.0 million to $311.74 billion; the 243 tax-exempt funds' assets decreased by $38.6 million to $86.40 billion.
 Assets of the 273 institutional money market funds decreased by $212.5 million to $196.80 billion for the same period. Among institutional funds, the 220 taxable money market fund assets dropped by $283.1 million to $174.89 billion; assets of the 53 tax exempt funds rose by $70.6 million to $21.91 billion.
 Total money market mutual fund assets stood at $594.93 billion for the week ended Tuesday, Nov. 23.
 Assets of money market mutual funds for the week ended Wednesday (11/17) were revised to $594.88 billion. The revisions are due to reporting errors and an increase 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- 11/24/93
 /CONTACT: Malin Jennings of the Investment Company Institute, 202-955-8415/


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

DC -- DC016 -- 7784 11/24/93 17:15 EST
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Publication:PR Newswire
Date:Nov 24, 1993
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