Money market fund assets fell by $7.25 billion

Published on NewsOK Modified: June 5, 2014 at 4:08 pm •  Published: June 5, 2014

Total U.S. money market mutual fund assets fell by $7.25 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 $40 million to $903.30 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell by $980 million to $716.11 billion. Tax-exempt retail fund assets rose $950 million to $187.19 billion.

Assets in institutional money market funds decreased by $7.21 billion to $1.68 trillion. Among institutional funds, taxable money market fund assets fell by $8.64 billion to $1.60 trillion. Assets of tax-exempt funds fell $1.43 billion to $72.06 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.