Money market fund assets increase $8 billion

Published on NewsOK Modified: February 13, 2014 at 2:49 pm •  Published: February 13, 2014

NEW YORK (AP) — Total U.S. money market mutual fund assets rose $8 billion to $2.713 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds fell $110 million to $922.6 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $680 million to $727.6 billion. Tax-exempt retail fund assets fell $790 million to $195 billion.

Assets in institutional money market funds rose $8.11 billion to $1.79 trillion. Among institutional funds, taxable money market fund assets increased $9.1 billion to $1.72 trillion. Assets of tax-exempt funds fell $990 million to $74.58 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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