Total money market mutual fund assets rose by $2.10 billion to $2.536 trillion for the week, the Investment Company Institute said Thursday.
Assets of the nation's retail money market mutual funds fell by $3.39 billion in the latest week to $1.026 trillion.
Assets of taxable money market funds in the retail category fell by $1.28 billion to $786.08 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Tax-exempt fund assets fell by $2.11 billion to $240.02 billion.
Assets of institutional money market funds rose by $5.48 billion to $1.510 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $4.93 billion to $1.356 trillion; assets of tax-exempt funds rose by $555.2 million to $154.58 billion.
The seven-day average yield on money market mutual funds fell in the week ended Tuesday to 4.70 percent from 4.72 percent the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield was unchanged at 4.72 percent, according to Money Fund Report.
The seven-day compounded yield fell to 4.81 percent from 4.84 percent the previous week, and the 30-day compounded yield fell to 4.83 percent from 4.84 percent, Money Fund Report said.
The average maturity of the portfolios held by money funds was 43 days, unchanged, said Money Fund.
