Money market fund assets rise $13.09 billion

Published on NewsOK Modified: July 3, 2014 at 2:30 pm •  Published: July 3, 2014
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Total U.S. money market mutual fund assets rose $13.09 billion to $2.57 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds rose $280 million to $892.86 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $710 million to $706.96 billion. Tax-exempt retail fund assets rose $980 million to $185.89 billion.

Assets in institutional money market funds rose $12.81 billion to $1.68 trillion. Among institutional funds, taxable money market fund assets rose $10.28 billion to $1.6 trillion. Assets of tax-exempt funds rose $2.53 billion to $73.04 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, Massachusetts. 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.