Total U.S. money market mutual fund assets rose by $5.08 billion to $2.56 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 $5.3 billion to $892.55 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell by $4.01 billion to $707.64 billion. Tax-exempt retail fund assets fell $1.3 billion to $184.91 billion.
Assets in institutional money market funds rose by $10.38 billion to $1.66 trillion. Among institutional funds, taxable money market fund assets rose by $11.03 billion to $1.59 trillion. Assets of tax-exempt funds fell $640 million to $70.51 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.
Continue reading this story on the...