Money Fund Assets Rose To $3.483T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets rose $198 million to $3.483 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell $12.88 billion in the latest week to $1.138 trillion.

Assets of taxable money market funds in the retail category fell $9.05 billion to $890.42 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Tax-exempt fund assets fell $3.83 billion to $247.63 billion.

Assets of institutional money market funds rose $13.08 billion to $2.345 trillion for the same period. Among institutional funds, taxable money market fund assets rose $16.73 billion to $2.169 trillion; assets of tax-exempt funds fell $3.65 billion to $175.12 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.

The seven-day compounded yield was 0.06, the same as the previous week, and the 30-day compounded yield was unchanged at 0.06 percent, Money Fund Report said.