Share “Money market fund assets rose to $2.665...”

Money market fund assets rose to $2.665 trillion

Published on NewsOK Modified: December 27, 2012 at 5:31 pm •  Published: December 27, 2012
Advertisement

NEW YORK (AP) — Total U.S. money market mutual fund assets rose $28.39 billion to $2.665 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets of the nation's retail money market mutual funds rose $9.45 billion to $929.23 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $6.82 billion to $728.61 billion. Tax-exempt retail fund assets rose $2.63 billion to $200.62 billion.

Meanwhile assets of institutional money market funds rose $18.93 billion to $1.736 trillion. Among institutional funds, taxable money market fund assets rose $17.28 billion to $1.651 trillion. Assets of tax-exempt funds rose $1.65 billion to $84.16 billion.

The seven-day average yield on money market mutual funds was unchanged from the previous week at 0.02 percent in the week that ended Tuesday, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass.

The 30-day average yield was flat at 0.02 percent from last week. The seven-day compounded was unchanged at 0.02 percent. The 30-day compounded yield was also flat at 0.02 percent, Money Fund Report said.

Continue reading this story on the...