Money Fund Assets Rose To $3.446T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets rose by $16.72 billion to $3.446 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $2.91 billion in the latest week to $1.122 trillion.

Assets of taxable money market funds in the retail category fell by $3.28 billion to $878.04 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets rose by $370 million to $244.11 billion.

Assets of institutional money market funds rose by $19.63 billion to $2.324 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $16.25 billion to $2.148 trillion; assets of institutional tax-exempt funds rose by $3.38 billion to $175.3 billion.

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