Money market fund assets fall by $47.2 billion

Published on NewsOK Modified: February 20, 2014 at 3:17 pm •  Published: February 20, 2014

NEW YORK (AP) — Total U.S. money market mutual fund assets fell by $49.17 billion to $2.664 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds fell $2.5 billion to $920.12 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $2.3 billion to $725.33 billion. Tax-exempt retail fund assets fell by $210 million to $194.8 billion.

Assets in institutional money market funds fell $46.66 billion to $1.744 trillion. Among institutional funds, taxable money market fund assets fell $48.2 billion to $1.667 trillion. Assets of tax-exempt funds rose by $1.54 billion to $76.11 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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