Money Fund Assets Fell To $3.482T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets fell by $62.6 billion to $3.482 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $10.36 billion in the latest week to $1.151 trillion.

Assets of taxable money market funds in the retail category fell by $8.09 billion to $899.47 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets fell by $2.27 billion to $251.46 billion.

Assets of institutional money market funds fell by $52.24 billion to $2.33 trillion for the same period. Among institutional funds, taxable money market fund assets fell by $46.97 billion to $2.153 trillion; assets of institutional tax-exempt funds fell by $5.27 billion to $178.76 billion.

The seven-day average yield on money market mutual funds in the week ended Tuesday was 0.06 percent, unchanged from the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield was also flat at 0.06 percent, according to Money Fund Report.