Total U.S. money market mutual fund assets fell by $35.02 billion to $2.58 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 $5.33 billion to $912.96 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $2.72 billion to $721.59 billion. Tax-exempt retail fund assets fell $2.61 billion to $191.37 billion.
Assets in institutional money market funds fell $29.69 billion to $1.66 trillion. Among institutional funds, taxable money market fund assets fell by $27.19 billion to $1.59 trillion. Assets of tax-exempt funds fell $2.5 billion to $73.06 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.
Continue reading this story on the...