​ Money Mkt Fund Assets Hit $​3 Trillion (​Rounded Up) on Flight to Safety. ICI reports that money market mutual fund asset rose by $​44.​5 billion to a record $​2.​970 trillion in the week ended Oct. 24. Investors flooded institutional funds with $​43.​6 billion in cash in anticipation of a cut in the Federal funds target rate next week by the Federal Reserve. Assets of money funds have risen an astounding $​588 billion, or 24.​7%, year-​to-​date, and $​716 billion, or 31.​8%, over the past 52 weeks. Treasury and Government money funds are seeing a resurgence of "​flight-​to-​quality" money while Prime money funds are also seeing longer-​term "​enhanced" cash and direct investment money move to the safety of funds.

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