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Money market fund assets rise $35.92 billion

6:10 AM, Sep 27, 2013   |    comments
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NEW YORK (AP) - Total U.S. money market mutual fund assets increased $35.92 billion to $2.69 trillion for the week that ended Wednesday.

According to the Investment Company Institute, assets in the nation's retail money market mutual fund decreased by $1.38 billion to $930.75 billion. Assets of taxable money market funds in the retail category fell $550 million to $737.43 billion. Tax-exempt retail fund assets decreased $830 million to $193.32 billion.

The Washington-based mutual fund trade group says assets in institutional money market funds increased $37.29 billion to $1.76 trillion. Among institutional funds, taxable money market fund assets increased $37.60 billion to $1.69 trillion. Assets of tax-exempt funds decreased $310 million to $71.06 billion.

Money Fund Report, a service of iMoneyNet Inc., says the 7-day average yield on money market mutual funds was unchanged at 0.01 percent from the previous week. The 7-day compounded yield was flat at 0.01 percent.

The report says the 30-day yield and the 30-day compounded yield were both unchanged at 0.01 percent.






Associated Press

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