The Wall Street Journal-20080214-Money Funds Increase to --36-3-337 Trillion

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Money Funds Increase to $3.337 Trillion

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Investors to money-market funds added $33.14 billion in the week ended Tuesday, bringing total net assets to $3.337 trillion, according to the Money Fund Report, published by iMoneyNet Inc.

Institutional investors contributed $29.69 billion, while individual, or "retail," investors added $3.44 billion.

Assets in taxable money funds rose by $31.02 billion to $2.844 trillion.

The average seven-day simple yield for taxable funds fell to 3.07% from 3.17%. The average seven-day compound yield, which assumes reinvestment of dividends, declined to 3.12% from 3.22%. Thirty-day simple yields slipped to 3.39% from 3.60%, while 30-day compound yields fell to 3.45% from 3.67%.

The fund with the highest seven-day compound yield among retail taxable general-purpose money funds was GE Money Market Fund k at 4.38%, followed by Vanguard Prime MMF/Investor at 4.11% and Morgan Stanley Active Assets MT at 4.10%.

About $2.12 billion was contributed to tax-free funds, putting total tax-free assets at $492.04 billion.

The average seven-day simple yield for nontaxable funds fell to 1.70% from 2.10%. The average seven-day compound yield, which assumes reinvestment of dividends, declined to 1.71% from 2.13%. The average 30-day simple yield decreased to 2.22% from 2.43%, and the average 30- day compound yield dropped to 2.24% from 2.46%.

The fund with the highest seven-day compound yield among retail tax- free money-market funds was Alpine Municipal MMF/Investor at 2.46%, followed by Dreyfus AMT-Free Muni Reserve/Basic at 2.36% and SSgA Tax Free MMF/Cl A at 2.32%.