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Article: Equities hype obscures money market rise.(money market funds)
- Article from:
- The Bond Buyer
- Article date:
- October 11, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lost in the hoopla over equity funds' soaring popularity has been the almost-as-dramatic increase in money market fund assets.
While stock fund assets increased 31.7% from August 1994 to August 1995, money funds were not far behind, according to the Investment Company Institute, the mutual fund trade group.
Over the same 12-month period, total money fund holdings increased 24%, from $579.8 billion to $717.7 billion, the ICI reported. Tax-exempt money fund assets increased 9.9%, from $111.0 billion to $122.1 billion.
Any surge in money market assets is often viewed as a sign of financial market worries. However, investor angst alone cannot explain the ...