Share “Money market fund assets fell $10.22 billion”

Money market fund assets fell $10.22 billion

Published on NewsOK Modified: July 17, 2014 at 4:34 pm •  Published: July 17, 2014

Total U.S. money market mutual fund assets fell $10.22 billion to $2.57 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds fell $1.42 billion to $893.46 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $1 billion to $707.33 billion. Tax-exempt retail fund assets fell $420 million to $186.13 billion.

Assets in institutional money market funds fell $8.80 billion to $1.67 trillion. Among institutional funds, taxable money market fund assets fell $8.54 billion to $1.6 trillion. Assets of tax-exempt funds decreased $260 million to $72 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, Massachusetts. 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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