BANKING & FINANCE - Dec. 27, 1991
From Times Staff and Wire Reports
Money Funds Assets Fell $6.14 Billion: Assets of the nation’s 586 money market mutual funds tumbled by $6.14 billion in the latest week as investors funneled holdings into the surging stock market, the Investment Company Institute said. The unusually large decline to $478.97 billion in the seven-day period ended Tuesday followed a $3.11-billion drop the previous week. The two-week drainage of money from the funds erased its record high of $484.83 billion set the week of Dec. 11 and reflected a shift away from the safe but lower-yielding returns that these investments provide.
