Money market mutual fund assets climbed again last week as investors continue to park cash on the sidelines.
Money market mutual funds reported assets of $3.509 trillion for the week ending May 21, up $11.17 billion from the prior week according to the Investment Company Institute. Money markets now make up almost 30% of all mutual fund assets, up from 25.8% at the end of 2007.
For an ETF perspective, see our recent post on Money Market ETFs.