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 Assets in the nation's retail money market mutual funds increased $5.29 billion to $924.26 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category increased $ 2.6 billion to $728.87 billion. Tax-exempt retail fund assets rose $2.68 billion to $195.38 billion.
Assets in institutional money market funds rose $2.37 billion to $1.696 trillion. Among institutional funds, taxable money market fund assets increased $800 million to $1.623 trillion. Assets of tax-exempt funds rose $1.58 billion to $72.52 billion.
The 7-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 7-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 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 were unchanged from the week before at 0.11 percent.
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