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Money market fund assets fall to $2.639 trillion

Published on NewsOK Modified: September 6, 2013 at 12:26 am •  Published: September 6, 2013

NEW YORK (AP) — Total U.S. money market mutual fund assets fell $4.86 billion to $2.639 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds rose $1.91 billion to $934.25 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $1.3 billion to $739.03 billion. Tax-exempt retail fund assets rose $620 million to $195.23 billion.

Assets in institutional money market funds fell $6.77 billion to $1.705 trillion. Among institutional funds, taxable money market fund assets fell $7.7 billion to $1.632 trillion. Assets of tax-exempt funds rose $930 million to $73.06 billion.

The 7-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 7-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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