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Money market fund assets rose by $3.33 billion

Published on NewsOK Modified: May 29, 2014 at 2:39 pm •  Published: May 29, 2014

Total U.S. money market mutual fund assets rose by $3.33 billion to $2.59 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 $1.23 billion to $903.31 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category were little changed at $717.07 billion. Tax-exempt retail fund assets fell $1.23 billion to $186.24 billion.

Assets in institutional money market funds increased by $4.58 billion to $1.68 trillion. Among institutional funds, taxable money market fund assets rose by $5.18 billion to $1.61 trillion. Assets of tax-exempt funds fell $600 million to $70.63 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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