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.