Money market fund assets fell to $2.564 trillion

Associated Press Published: October 4, 2012
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NEW YORK (AP) — Total U.S. money market mutual fund assets fell $11.64 billion to $2.564 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets of the nation's retail money market mutual funds rose $2.49 billion to $889.81 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $660 million to $700.1 billion. Tax-exempt retail fund assets rose $1.83 billion to $189.71 billion.

Meanwhile, assets of institutional money market funds fell $14.13 billion to $1.674 trillion. Among institutional funds, taxable money market fund assets fell $15.54 billion to $1.592 trillion. Assets of tax-exempt funds rose $1.42 billion to $82.05 billion.

The seven-day average yield on money market mutual funds was unchanged from the previous week at 0.03 percent in the week that ended Tuesday, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass.

The 30-day average yield was also unchanged from last week at 0.03 percent. The seven-day compounded was flat at 0.03 percent. The 30-day compounded yield was also unchanged at 0.03 percent, Money Fund Report said.

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