Money market fund assets rose $24.04 billion

Published on NewsOK Modified: January 2, 2014 at 5:02 pm •  Published: January 2, 2014

NEW YORK (AP) — Total U.S. money market mutual fund assets rose $24.04 billion to $2.719 trillion for the week that ended Tuesday, according to the Investment Company Institute.

Assets in the nation's retail money market mutual funds rose $2.37 billion to $929.25 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $1.12 billion to $732.7 billion. Tax-exempt retail fund assets rose $1.25 billion to $196.55 billion.

Assets in institutional money market funds rose by $21.67 billion to $1.789 trillion. Among institutional funds, taxable money market fund assets increased by $21.97 billion to $1.715 trillion. Assets of tax-exempt funds fell $290 million to $74.42 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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