Institutions - so-called patient money - led the exodus from stock...

Institutions - so-called patient money - led the exodus from stock mutual funds during last week's stock market rout. Overall, money market mutual fund assets gained nearly $2 billion to reach a record $846.1 billion. Most of those gains occurred in taxable institutions-only funds ``as hot money was pulled out of a chaotic stock market and parked in less volatile money funds,'' according to IBC's Money Fund Report. Assets of taxable money funds rose $4.3 billion to a record $710.6 billion during the period.