Share “Money market fund assets rise $5.37 billion”

Money market fund assets rise $5.37 billion

Published on NewsOK Modified: July 10, 2014 at 4:55 pm •  Published: July 10, 2014

Total U.S. money market mutual fund assets rose $5.37 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 rose $1.78 billion to $894.66 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $1.13 billion to $708.11 billion. Tax-exempt retail fund assets rose $660 million to $186.55 billion.

Assets in institutional money market funds rose $3.58 billion to $1.68 trillion. Among institutional funds, taxable money market fund assets rose $4.37 billion to $1.6 trillion. Assets of tax-exempt funds decreased $780 million to $72.26 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.

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