Last updated: October 24. 2013 5:36PM - 376 Views
Associated Press



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(AP) Total U.S. money market mutual fund assets rose by $54.55 billion to $2.668 trillion for the week that ended Wednesday, according to the Investment Company Institute.


Assets in the nation's retail money market mutual funds fell $8.45 billion to $928.13 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $7.08 billion to $734.84 billion. Tax-exempt retail fund assets fell $1.37 billion to $193.3 billion.


Assets in institutional money market funds rose $63 billion to $1.74 trillion. Among institutional funds, taxable money market fund assets rose $63.51 billion to $1.669 trillion. Assets of tax-exempt funds fell $520 million to $70.52 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 average maturity of portfolios held by money market mutual funds rose to 48 days from 46 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 at 0.12 percent.


The North Palm Beach, Fla.-based unit of Bankrate Inc. said Wednesday that the annual percentage yield available on interest-bearing checking accounts was unchanged from the week before at 0.05 percent.


Bankrate.com said the annual percentage yield on six-month certificates of deposit was unchanged at 0.14 percent, flat at 0.23 percent for one-year CDs and unchanged at 0.37 percent on two-year CDs. A five-year yield fell to 0.78 percent from 0.79 percent the week before.


Associated Press
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