Money Fund Assets Fell To $3.37T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets fell by $2.27 billion to $3.37 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $7.4 billion in the latest week to $1.096 trillion.

Assets of taxable money market funds in the retail category fell by $5.75 billion to $856.69 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets fell by $1.66 billion to $239.69 billion.

Assets of institutional money market funds rose by $5.13 billion to $2.274 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $6.4 billion to $2.103 trillion; assets of institutional tax-exempt funds fell $1.27 billion to $170.25 billion.

The seven-day average yield on money market mutual funds fell in the week ended Tuesday to 0.04 percent from 0.05 percent the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield was unchanged at 0.05 percent, according to Money Fund Report.