Money market fund assets fell to $2.571 trillion
NEW YORK (AP) — Total U.S. money market mutual fund assets fell $2.55 billion to $2.571 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday.
Assets of the nation's retail money market mutual funds fell $850 million to $886.86 billion, the Washington-based mutual fund trade group said. Assets of taxable money market funds in the retail category rose $290 million to $698.58 billion. Tax-exempt retail fund assets fell $1.13 billion to $188.28 billion.
Meanwhile, assets of institutional money market funds fell $1.70 billion to $1.684 trillion. Among institutional funds, taxable money market fund assets fell $80 million to $1.603 trillion. Assets of tax-exempt funds fell $1.62 billion to $81.48 billion.
The seven-day average yield on money market mutual funds was unchanged at 0.02 percent in the week that ended Tuesday from the previous week, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass.
The 30-day average yield fell to 0.02 percent from 0.03 percent last week. The seven-day compounded was flat at 0.02 percent. The 30-day compounded fell to 0.02 percent from 0.03 percent, Money Fund Report said.
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