Money Fund Assets Fell To $3.372T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets fell by $31.27 billion to $3.372 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $11.66 billion in the latest week to $1.104 trillion.

Assets of taxable money market funds in the retail category fell by $10.31 billion to $862.43 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets fell by $1.35 billion to $241.35 billion.

Assets of institutional money market funds fell by $19.61 billion to $2.269 trillion for the same period. Among institutional funds, taxable money market fund assets fell by $17.59 billion to $2.097 trillion; assets of institutional tax-exempt funds fell by $2.02 billion to $171.53 billion.

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