Total U.S. money market mutual fund assets fell $2.18 billion to $2.56 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds fell $2.84 billion to $896.27 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $2.97 billion to $710.27 billion. Tax-exempt retail fund assets fell $140 million to $186 billion.
Assets in institutional money market funds fell $5.03 billion to $1.67 trillion. Among institutional funds, taxable money market fund assets fell $4.22 billion to $1.6 trillion. Assets of tax-exempt funds decreased $810 million to $71.18 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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