"Money fund assets top $3.5 trillion as investors stash cash" writes the LA Times. "'Better safe than sorry' has been the motto of many an investor over the last year. And one of the biggest beneficiaries of that cautious mind-set has been the money market mutual fund industry," says the Tom Petruno article. The Times explains, "Assets in money funds just crossed the $3.5-trillion mark this week for the first time, according to Money Fund Report in Westborough, Mass. Investors added a net $22.4 billion to the funds in the seven days ended Tuesday, lifting total assets to a record $3.52 trillion." (Note that this article references iMoneyNet's asset series; ICI's totals surpassed $3.5 trillion mark in April of this year and Crane Data's have yet to reach this level.)
