Money market fund assets rose to $2.716 trillion

Assets of the nation's retail money market mutual funds fell $2.70 billion to $940.53 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $4.25 billion to $735.11 billion. Tax-exempt retail fund assets rose $1.55 billion to $205.42 billion.

Meanwhile assets of institutional money market funds rose $14.20 billion to $1.776 trillion. Among institutional funds, taxable money market fund assets rose $15.05 billion to $1.689 trillion. Assets of tax-exempt funds fell $840 million to $86.40 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.