Money Fund Assets Fell To $3.335T In Latest Week

NEW YORK (AP) — Total money market mutual fund assets fell by $3.68 billion to $3.335 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $4.17 billion in the latest week to $1.093 trillion.

Assets of taxable money market funds in the retail category fell by $2.79 billion to $853.96 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets fell by $1.38 billion to $238.8 billion.

Assets of institutional money market funds rose by $493 million to $2.242 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $2.63 billion to $2.074 trillion; assets of institutional tax-exempt funds fell by $2.13 billion to $168.39 billion.

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