Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Money market fund assets fall to $2.564 trillion

Send a link to a friend

[June 08, 2012]  NEW YORK (AP) -- Total U.S. money market mutual fund assets fell by $8.04 billion to $2.564 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds rose by $2.88 billion to $890.35 billion, the Washington-based mutual fund trade group said. Assets of taxable money market funds in the retail category grew by $1.6 billion to $703.59 billion. Tax-exempt retail fund assets rose by $1.28 billion to $186.77 billion.

Meanwhile, assets of institutional money market funds fell $10.92 billion to $1.674 trillion. Among institutional funds, taxable money market fund assets fell $10.97 billion to $1.588 trillion; assets of tax-exempt funds rose $50 million to $86.41 billion.

The seven-day average yield on money market mutual funds was 0.03 percent in the week that ended Tuesday, unchanged from the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass.

The 30-day average yield was also unchanged from last week at 0.03 percent. The seven-day compounded yield was flat at 0.03 percent. The 30-day compounded yield was unchanged at 0.03 percent, Money Fund Report said.

The average maturity of portfolios held by money market mutual funds was the same as the previous week at 45 days.

[to top of second column]

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 last week at 0.13 percent.

The North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking accounts was unchanged from the week before at 0.06 percent.

Bankrate.com said the annual percentage yield on six-month certificates of deposit was also unchanged from the previous week at 0.21 percent. The yield on one-year CDs fell to 0.32 percent from 0.33 percent. It fell to 0.51 percent from 0.52 percent on 2 1/2-year CDs. It was flat at 1.12 percent on five-year CDs.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

< Recent articles

Back to top


 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor