Share “Money market fund assets fell by $3.1 billion”

Money market fund assets fell by $3.1 billion

Published on NewsOK Modified: May 15, 2014 at 5:10 pm •  Published: May 15, 2014

Total U.S. money market mutual fund assets fell by $3.1 billion to $2.59 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds fell by $2.74 billion to $903.91 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $1.95 billion to $716.83 billion. Tax-exempt retail fund assets fell $790 million to $187.08 billion.

Assets in institutional money market funds decreased by $360 million to $1.68 trillion. Among institutional funds, taxable money market fund assets fell by $80 million to $1.61 trillion. Assets of tax-exempt funds fell $280 million to $70.9 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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