Money Fund Assets Fell To $3.339T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets fell by $31.26 billion to $3.339 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds rose by $703 million in the latest week to $1.097 trillion.

Assets of taxable money market funds in the retail category rose by $170 million to $856.76 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets rose by $530 million to $240.18 billion.

Assets of institutional money market funds fell by $31.97 billion to $2.242 trillion for the same period. Among institutional funds, taxable money market fund assets fell by $32.21 billion to $2.071 trillion; assets of institutional tax-exempt funds rose by $250 million to $170.53 billion.

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