NEW YORK (AP) - Total U.S. money market mutual fund assets rose by $19.96 billion to $2.684 trillion for the week that ended Wednesday, according to the Investment Company Institute.
NEW YORK (AP) — Total U.S. money market mutual fund assets rose by $19.96 billion to $2.684 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds fell $4.16 billion to $915.85 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $3.55 billion to $721.66 billion. Tax-exempt retail fund assets fell by $600 million to $194.19 billion.
Assets in institutional money market funds rose by $24.11 billion to $1.768 trillion. Among institutional funds, taxable money market fund assets rose by $24.56 billion to $1.692 trillion. Assets of tax-exempt funds fell by $450 million to $75.66 billion.
The seven-day average yield on money market mutual funds was unchanged at 0.01 percent from the previous week, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass. The seven-day compounded yield was flat at 0.01 percent.
The 30-day yield and the 30-day compounded yield were both unchanged at 0.01 percent, Money Fund Report said Wednesday.
The average maturity of portfolios held by money market mutual funds fell to 46 days from 47 days the prior week.
The online service Bankrate.com said its survey of 100 leading commercial banks, savings and loan associations and savings banks in the nation's 10 largest markets showed the annual percentage yield available on money market accounts was unchanged from the week before at 0.11 percent.
The North Palm Beach, Fla.-based unit of Bankrate Inc. said Wednesday that the annual percentage yield available on interest-bearing checking accounts remained steady at 0.05 percent.
Bankrate.com said the annual percentage yield on six-month certificates of deposit was unchanged from a week ago at 0.15 percent. One-year CD yields were also flat at 0.23 percent, and the yield on two-year CDs was unchanged at 0.37 percent. The five-year yield was unchanged at 0.80 percent.