Money Fund Assets Fell To 3.429T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets fell by $53.52 billion to $3.429 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $12.99 billion in the latest week to $1.125 trillion.

Assets of taxable money market funds in the retail category fell by $9.1 billion to $881.32 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets fell by $3.89 billion to $243.74 billion.

Assets of institutional money market funds fell by $40.54 billion to $2.304 trillion for the same period. Among institutional funds, taxable money market fund assets fell by $37.34 billion to $2.132 trillion; assets of institutional tax-exempt funds fell by $3.19 billion to $171.92 billion.

The seven-day average yield on money market mutual funds fell in the week ended Tuesday to 0.05 percent from 0.06 percent the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield was unchanged at 0.06 percent, according to Money Fund Report.