Money market fund assets rise to $2.5 trillion

Posted Aug. 09, 2012, at 8:15 p.m.

NEW YORK — Total U.S. money market mutual fund assets rose $10.94 billion to $2.562 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday.

Assets of the nation’s retail money market mutual funds rose $5.22 billion to $887.94 billion, the Washington-based mutual fund trade group said. Assets of taxable money market funds in the retail category rose $3.08 billion to $698.61 billion. Tax-exempt retail fund assets rose $2.13 billion to $189.33 billion.

Meanwhile, assets of institutional money market funds rose $5.72 billion to $1.674 trillion. Among institutional funds, taxable money market fund assets rose $5.96 billion to $1.589 trillion. Assets of tax-exempt funds fell $240 million to $84.16 billion.