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 Assets in the nation's retail money market mutual fund decreased by $1.38 billion to $930.75 billion, the Washington-based mutual fund trade group said Thursday. 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.
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.
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 average maturity of portfolios held by money market mutual funds fell to 48 days from 49 days.
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 0.10 percent.
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