Money market fund assets rose $22.09 billion

Published on NewsOK Modified: December 26, 2013 at 2:28 pm •  Published: December 26, 2013
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NEW YORK (AP) — Total U.S. money market mutual fund assets rose $22.09 billion to $2.697 trillion for the week that ended Monday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds rose $1.27 billion to $926.93 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $450 million to $731.63 billion. Tax-exempt retail fund assets rose $810 million to $195.3 billion.

Assets in institutional money market funds rose by $20.82 billion to $1.77 trillion. Among institutional funds, taxable money market fund assets increased by $21.47 billion to $1.695 trillion. Assets of tax-exempt funds fell $640 million to $74.8 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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