Money market fund assets fall $34.37 billion

Published on NewsOK Modified: December 19, 2013 at 4:33 pm •  Published: December 19, 2013

NEW YORK (AP) — Total U.S. money market mutual fund assets fell $34.37 billion to $2.675 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds rose $4.07 billion to $925.77 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $2.36 billion to $731.29 billion. Tax-exempt retail fund assets rose $1.72 billion to $194.48 billion.

Assets in institutional money market funds fell $38.45 billion to $1.75 trillion. Among institutional funds, taxable money market fund assets fell $39.77 billion to $1.674 trillion. Assets of tax-exempt funds rose $1.32 billion to $75.45 billion.

The seven-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 seven-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.

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