NEW YORK (AP) — Total U.S. money market mutual fund assets rose $15.49 billion to $2.638 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds rose $7.31 billion to $931.03 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category increased $5.9 billion to $735.01 billion. Tax-exempt retail fund assets rose $1.41 billion to $196.01 billion.
Assets in institutional money market funds rose $8.18 billion to $1.707 trillion. Among institutional funds, taxable money market fund assets increased $7.84 billion to $1.63 trillion. Assets of tax-exempt funds rose $340 million to $72.8 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.
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