Money market fund assets fall by $17.7 billion

Published on NewsOK Modified: April 10, 2014 at 4:39 pm •  Published: April 10, 2014

Total U.S. money market mutual fund assets fell by $17.7 billion to $2.61 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds fell by $4.5 billion to $918.26 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $3.6 billion to $724.28 billion. Tax-exempt retail fund assets fell $860 million to $193.98 billion.

Assets in institutional money market funds fell $13.2 billion to $1.69 trillion. Among institutional funds, taxable money market fund assets fell by $11.78 billion to $1.62 trillion. Assets of tax-exempt funds fell by $1.42 billion to $75.56 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.