NEW YORK (AP) — Total U.S. money market mutual fund assets rose by $54.55 billion to $2.668 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds fell $8.45 billion to $928.13 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $7.08 billion to $734.84 billion. Tax-exempt retail fund assets fell $1.37 billion to $193.3 billion.
Assets in institutional money market funds rose $63 billion to $1.74 trillion. Among institutional funds, taxable money market fund assets rose $63.51 billion to $1.669 trillion. Assets of tax-exempt funds fell $520 million to $70.52 billion.
The 7-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 7-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.