Total U.S. money market mutual fund assets fell by $13.12 billion to $2.63 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds rose by $1.04 billion to $922.76 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $670 million to $727.92 billion. Tax-exempt retail fund assets rose $370 million to $194.84 billion.
Assets in institutional money market funds fell $14.17 billion to $1.71 trillion. Among institutional funds, taxable money market fund assets fell by $15.08 billion to $1.63 trillion. Assets of tax-exempt funds rose by $910 million to $76.98 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.
Continue reading this story on the...