1. The Fund
2. Significant Accounting Policies
Notes to Financial Statements
MassMutual Institutional Funds (the “Trust”) is registered under the Investment Company Act of
1940, as amended (the “1940 Act”), as an open-end, management investment company. The Trust is
organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business
trust pursuant to an Agreement and Declaration of Trust dated May 28, 1993, as amended. On
October 3, 1994, the following seven series of the Trust (each individually referred to as a “Fund” or
collectively as the “Funds”) commenced operations: MassMutual Prime Fund (“Prime Fund”),
MassMutual Short-Term Bond Fund ( “Short-Term Bond Fund”), MassMutual Core Bond Fund
(“Core Bond Fund”), MassMutual Balanced Fund (“Balanced Fund”), MassMutual Core Equity
Fund (“Core Equity Fund”) formerly known as MassMutual Value Equity Fund, MassMutual Small
Cap Value Equity Fund (“Small Cap Value Equity Fund”), and MassMutual International Equity
Fund (“International Equity Fund”). On May 3, 1999, four new series of the Trust commenced
operations: MassMutual Diversified Bond Fund (“Diversified Bond Fund”), MassMutual Growth
Equity Fund (“Growth Equity Fund”), MassMutual Mid Cap Growth Equity Fund (“Mid Cap Growth
Equity Fund ”), and MassMutual Small Cap Growth Equity Fund (“Small Cap Growth Equity Fund”).
Additionally, MassMutual Indexed Equity Fund ( “Indexed Equity Fund”) commenced operations
March 1, 1998. Separate financial statements are prepared for the Indexed Equity Fund.
During the reporting period, each Fund had four classes of shares: Class A, Class L, Class Y, and
Class S. Class L shares began operations May 3, 1999. Class A and Y shares began operations and
Class 4 shares of the Funds were redesignated as Class S shares effective January 1, 1998. The Class
1, Class 2, and Class 3 shares were subsequently terminated by the Board of Trustees (“Trustees”).
The principal eco