August 15, 2019 / 2:34 PM / in 4 months

UPDATE 1-US money fund deposits surged by $202 bln in past 3 months

(Adds details on interest rate effect)

BOSTON, Aug 15 (Reuters) - U.S. money-market fund deposits surged by about $202 billion during the past three months, the strongest showing in at least a decade, research firm Morningstar Inc said on Thursday.

In July alone, money-market funds collected nearly $76 billion amid the first Federal Reserve interest rate cut since 2008. Taxable-bond funds also had a strong showing, with $40.2 billion in net deposits during July and $206 billion during the past 12 months, Morningstar said.

Reporting By Tim McLaughlin Editing by Chizu Nomiyama

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