N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-09713

Active Assets Institutional Money Trust

(Exact name of registrant as specified in charter)

522 Fifth Avenue, New York, New York	10036
(Address of principal executive offices)	(Zip code)

Randy Takian
522 Fifth Avenue, New York, New York 10036

(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-296-6963

Date of fiscal year end: June 30, 2009

Date of reporting period: March 31, 2009

Item 1. Schedule of Investments.

The Fund’s schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows:

Active Assets Institutional Money Trust
Portfolio of Investments — March 31, 2009 (unaudited)

			ANNUALIZED
PRINCIPAL			YIELD
AMOUNT IN			ON DATE OF		MATURITY
THOUSANDS		DESCRIPTION	PURCHASE		DATE		VALUE
		Commercial Paper (56.5%)
		Asset-Backed — Consumer Credit (7.4%)
$	25,000	Old Line Funding, LLC (a)	0.50	%	04/09/09-04/20/09		$	24,995,695
	40,000	Ranger Funding Co., LLC (a)	0.70-0.73		05/18/09-06/08/09			39,958,794
	32,000	Thunder Bay Funding, LLC (a)	0.50-0.57		04/08/09-04/17/09			31,995,785
								96,950,274
		Asset-Backed — Consumer Diversified (9.1%)
	28,000	Enterprise Funding Co., LLC (a)	0.70		05/18/09			27,974,411
	50,000	Falcon Asset Securitization Co., LLC (a)	0.55		05/12/09			49,968,681
	42,000	Sheffield Receivables Corp. (a)	0.60-1.31		04/03/09-04/06/09			41,996,722
								119,939,815
		Asset-Backed — Consumer Loans (14.4%)
	55,000	Amsterdam Funding Corp. (a)	0.75-0.87		04/20/09-07/02/09			54,905,129
	50,000	Jupiter Securitization Co., LLC (a)	0.57		05/14/09			49,965,958
	65,000	Salisbury Receivables Corp. (a)	0.60		04/06/09			64,994,583
	10,000	Windmill Funding Corp. (a)	0.75		04/13/09			9,997,500
	10,000	Yorktown Capital, LLC (a)	0.55		04/06/09			9,999,236
								189,862,406
		Asset-Backed — Corporate (5.5%)
	73,000	Atlantis One Funding Corp. (a)	0.75		05/04/09-05/22/09			72,937,438
		International Banks (20.1%)
	40,000	Bank of Nova Scotia	0.48		05/18/09			39,974,933
	25,000	Calyon North America Inc.	0.60		04/15/09			24,994,167
	25,000	Danske Corp. (a)	0.49		04/30/09			24,990,132
	50,000	Intesa Funding, LLC	0.71		06/03/09			49,937,875
	50,000	Lloyds TSB Bank PLC	0.38		04/01/09			50,000,000
	50,000	Rabobank (U.S.) Financial Corp.	0.65-0.70		06/15/09-07/01/09			49,922,465
	25,000	Societe Generale N.A., Inc.	0.78		04/28/09			24,985,375
								264,804,947
		Total Commercial Paper (Cost $744,494,880)						744,494,880
		Repurchase Agreements (34.8%)
	50,000	Barclays Capital LLC (dated 03/31/09; proceeds $50,000,417); fully collateralized by Government National Mortgage Assoc., 4.50%, due 03/15/39; valued at $51,500,000.	0.30		04/01/09			50,000,000
	175,000	BNP Paribas Securities (dated 03/31/09; proceeds $175,001,021); fully collateralized by Federal National Mortgage Assoc., 4.50%-6.00%, due 04/01/20-04/01/39; Federal Home Loan Mortgage Corp., 6.00%-6.50%, due 03/01/37-11/01/37; valued at $180,250,000.	0.21		04/01/09			175,000,000
	234,475	Goldman Sachs & Co. (dated 03/31/09; proceeds $234,476,107); fully collateralized by Federal National Mortgage Assoc.,4.00%-8.00%, due 10/01/17-02/01/39; Federal Home Loan Mortgage Corp., 4.50%-7.00%, due 09/01/17-10/01/38; valued at $241,509,250.	0.17		04/01/09			234,475,000
		Total Repurchase Agreements (Cost $459,475,000)						459,475,000
		Floating Rate Notes (8.7%)
		Finance-Auto (1.9%)
	25,000	Toyota Motor Credit Corp.	0.56	(b)	07/10/09	(c)		25,000,000
		Financial Conglomerates (1.5%)
	20,000	General Electric Capital Corp.	1.42	(b)	06/15/09	(c)		20,002,629

			ANNUALIZED
PRINCIPAL			YIELD
AMOUNT IN			ON DATE OF		MATURITY
THOUSANDS		DESCRIPTION	PURCHASE		DATE		VALUE
		International Banks (5.3%)
	9,000	Bank of Nova Scotia	1.64	(b)	05/06/09	(c)		9,000,000
	60,500	Barclays Bank PLC	1.00-1.73	(b)	04/14/09-06/09/09	(c)		60,500,000
								69,500,000
		Total Floating Rate Notes (Cost $114,502,629)						114,502,629
		Total Investments (Cost $1,318,472,509)(d)			100.0	%		1,318,472,509
		Other Assets in Excess of Liabilities			0.0			65,530
		Net Assets			100.0	%	$	1,318,538,039

(a)	Resale is restricted to qualified institutional investors.
(b)	Rate shown is the rate in effect at March 31, 2009.
(c)	Date of next interest rate reset.
(d)	Cost is the same for federal income tax purposes.

Active Assets Institutional Money Trust
Notes to the Portfolio of Investments
FAS 157
3/31/2009

The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“SFAS 157”), effective July 1, 2008. In accordance with SFAS 157, fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. SFAS 157 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Fund’s investments. The inputs are summarized in the three broad levels listed below.

• Level 1 — quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each security.

The following is a summary of the inputs used as of March 31, 2009 in valuing the Fund’s investments carried at value:

			Fair Value Measurements at March 31, 2009 Using
			Quoted Prices In		Significant		Significant
			Active Market for		Other Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Investments in Securities	$	1,318,472,509		—	$	1,318,472,509		—

Valuation of Investments — Portfolio securities are valued at amortized cost, which approximates market value, in accordance with Rule 2a-7 under the Investment Company Act of 1940. Investments in open-end mutual funds, including the Morgan Stanley Institutional Liquidity Funds, are valued at the net asset value as of the close of each business day.

Item 2. Controls and Procedures.

(a) The Fund’s principal executive officer and principal financial officer have concluded that the Fund’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Fund in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.

(b) There were no changes in the Fund’s internal control over financial reporting that occurred during the registrant’s fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund’s internal control over financial reporting.

Item 3. Exhibits.

(a) A separate certification for each principal executive officer and principal financial officer of the registrant are attached hereto.

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Active Assets Institutional Money Trust
 

/s/ Randy Takian  

Randy Takian 

Principal Executive Officer
May 19, 2009 

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

/s/ Randy Takian  

Randy Takian 

Principal Executive Officer
May 19, 2009 

/s/ Francis Smith  

Francis Smith 

Principal Financial Officer
May 19, 2009 

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EX-99.CERT

Exhibit 3 A1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

I, Randy Takian, certify that:

1.	I have reviewed this report on Form N-Q of Active Assets Institutional Money Trust;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)	Omitted;
(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 19, 2009

/s/ Randy Takian  

Randy Takian 

Principal Executive Officer 

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Exhibit 3 A2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

I, Francis Smith, certify that:

1.	I have reviewed this report on Form N-Q of Active Assets Institutional Money Trust;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)	Omitted;
(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 19, 2009

/s/ Francis Smith  

Francis Smith 

Principal Financial Officer 

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