Money market fund assets fall $4.18 billion

Published on NewsOK Modified: January 9, 2014 at 4:24 pm •  Published: January 9, 2014

NEW YORK (AP) — Total U.S. money market mutual fund assets fell $4.18 billion to $2.715 trillion for the eight-day period that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds rose $2.09 billion to $931.32 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $190 million to $732.9 billion. Tax-exempt retail fund assets rose $1.90 billion to $198.44 billion.

Assets in institutional money market funds fell $6.26 billion to $1.783 trillion. Among institutional funds, taxable money market fund assets decreased $7.49 billion to $1.708 trillion. Assets of tax-exempt funds rose $1.22 million to $75.65 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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