NEW YORK (AP) — Total U.S. money market mutual fund assets fell $19.78 billion to $2.666 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual fund rose $1.78 billion to $935.71 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $2.25 billion to $741.39 billion. Tax-exempt retail fund assets fell $470 million to $194.32 billion.
Assets in institutional money market funds fell $21.56 billion to $1.73 trillion. Among institutional funds, taxable money market fund assets fell $20.58 billion to $1.659 trillion. Assets of tax-exempt funds fell $980 million to $71.43 billion.
The 7-day average yield on money market mutual funds was unchanged at 0.01 percent from the previous week, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass. The 7-day compounded yield was flat at 0.01 percent.
The 30-day yield and the 30-day compounded yield were both unchanged at 0.01 percent, Money Fund Report said Wednesday.