NEW YORK (AP) — Total U.S. money market mutual fund assets decreased $8.51 billion to $2.685 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual fund increased $3.07 billion to $933.88 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $1.61 billion to $739.09 billion. Tax-exempt retail fund assets increased $1.47 billion to $194.79 billion.
Assets in institutional money market funds decreased $11.59 billion to $1.751 trillion. Among institutional funds, taxable money market fund assets decreased $12.94 billion to $1.679 trillion. Assets of tax-exempt funds increased $1.35 billion to $72.41 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.