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U.S. money fund assets post biggest rise since September: iMoneynet
December 10, 2014 / 7:56 PM / in 3 years

U.S. money fund assets post biggest rise since September: iMoneynet

1 Min Read

NEW YORK (Reuters) - U.S. money market mutual fund assets rose $21.89 billion for the largest weekly increase since the week of Sept. 23, suggesting some investors are stockpiling cash as year-end approaches, the Money Fund Report said on Wednesday.

Money fund assets rose eight weeks in a row to $2.716 trillion in the week ended Dec. 9,, reaching their highest level in 10 months, according to the report published by iMoneynet.

Taxable money market fund assets grew by $19.83 billion to $2.461 trillion in the latest week, while tax-free assets increased by $2.06 billion to $254.71 billion,

Prime institutional money fund assets jumped $13.64 billion in the latest week, while government institutional fund assets increased $9.01 billion.

Reporting by Richard Leong; Editing by Meredith Mazzilli

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