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INVESTMENT COMPANY INSTITUTE REPORTS ON MONEY MARKET MUTUAL FUNDS

 WASHINGTON, May 13 /PRNewswire/ -- Assets of the nation's 632 retail money market mutual funds decreased by $1.02 billion to $385.93 billion for the week ended Wednesday, May 12, the Investment Company Institute reported today. Assets of the 396 taxable money market funds in the retail category fell by $943.3 million to $305.65 billion; the 236 tax-exempt funds assets decreased by $75.1 million to $80.28 billion.
 Assets of the 263 institutional money market funds decreased by $3.12 billion to $197.98 billion for the same period. Among institutional funds, the 212 taxable money market fund assets declined by $2.84 billion to $177.31 billion; assets of the 51 tax exempt funds fell by $272.51 million to $20.67 billion.
 Total money market mutual fund assets stood at $583.91 billion for the week ended Wednesday, May 12.
 Assets of money market mutual funds for the week ended Wednesday, May 5, were revised to $588.05 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- 5/13/93
 /CONTACT: Malin Jennings of the Investment Company Institute 202-955-8415/


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

TW -- DC025 -- 8291 05/13/93 16:24 EDT
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Publication:PR Newswire
Date:May 13, 1993
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/C O R R E C T I O N -- INVESTMENT COMPANY INSTITUTE/

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