Money market fund assets rose by $2.56 billion

Published on NewsOK Modified: June 12, 2014 at 4:53 pm •  Published: June 12, 2014

Total U.S. money market mutual fund assets rose by $2.56 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 fell by $4.13 billion to $899.17 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell by $3.43 billion to $712.68 billion. Tax-exempt retail fund assets fell $700 million to $186.49 billion.

Assets in institutional money market funds increased by $6.69 billion to $1.68 trillion. Among institutional funds, taxable money market fund assets rose by $7.54 billion to $1.61 trillion. Assets of tax-exempt funds fell $850 million to $71.21 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.