Money market mutuals boost assets again
New York — Assets of money market mutual funds rose $301 million in the latest week ending May 5, after several weeks of decline. Average yields decreased.
The Investment Company Institute, the Washington-based industry association, said the latest rise brought total assets of money market funds to $191.9 billion. There are 11.4 million shareholder accounts in the funds. Almost all of the latest increase was in general-purpose funds catering to smaller investors.