September 07, 2007 at 11:24 am by Tom Lydon
Although some money-market funds have been under scrutiny lately, exchange traded fund (ETF) investors and others continue to stash their money in them. U.S. money-market mutual fund assets rose to a record $2.73 trillion last week, beating the previous week’s high, according to a Money Fund Report. The report also showed that while retail investors moved out of government and prime funds, institutional investors added $19.5 billion into taxable funds, says Joe Morris for Ignites. In addition, taxable assets rose $8.6 billion to a record $2.3 trillion, which is a reversal from one week earlier when taxable assets lost $1.21 billion because of prime fund outflows.
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