Money market fund assets rose to $2.645 trillion

Published on NewsOK Modified: December 13, 2012 at 5:33 pm •  Published: December 13, 2012

NEW YORK (AP) — Total U.S. money market mutual fund assets rose $1.53 billion to $2.645 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets of the nation's retail money market mutual funds rose $3.44 billion to $910.39 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $2.52 billion to $715.62 billion. Tax-exempt retail fund assets rose $910 million to $194.76 billion.

Meanwhile assets of institutional money market funds fell $1.91 billion to $1.735 trillion. Among institutional funds, taxable money market fund assets fell $1.4 billion to $1.653 trillion. Assets of tax-exempt funds fell $500 million to $82.46 billion.

The seven-day average yield on money market mutual funds was unchanged from the previous week at 0.02 percent in the week that ended Tuesday, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass.

The 30-day average yield was flat at 0.02 percent from last week. The seven-day compounded was unchanged at 0.02 percent. The 30-day compounded yield was also flat at 0.02 percent, Money Fund Report said.

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