Total U.S. money market mutual fund assets fell by $4.08 billion to $2.68 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds increased by $170 million to $916 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $330 million to $721.31 billion. Tax-exempt retail fund assets rose by $500 million to $194.69 billion.
Assets in institutional money market funds fell by $4.25 billion to $1.764 trillion. Among institutional funds, taxable money market fund assets fell by $4.81 billion to $1.687 trillion. Assets of tax-exempt funds rose by $570 million to $76.23 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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