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Money fund assets rose to $3.906T in latest week

Money fund assets rose to $3.906T in latest week

Total money market mutual fund assets rose $17.84 billion to $3.906 trillion for the week, the Investment Company Institute said Thursday.
Assets of the nation's retail money market mutual funds rose $10.81 billion in the latest week to $1.354 trillion.
Assets of taxable money market funds in the retail category rose by $10.375 billion to $1.064 trillion for the week ended Wednesday, the Washington-based mutual fund trade group said. Tax-exempt fund assets rose by $428 million to $290.19 billion.
Assets of institutional money market funds rose by $7.03 billion to $2.552 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $5.2 billion to $2.361 trillion; assets of tax-exempt funds rose by $1.83 billion to $190.34 billion.
The seven-day average yield on money market mutual funds fell in the week ended Tuesday to 0.32 percent from 0.33 percent the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield fell to 0.36 percent from 0.39 percent, according to Money Fund Report.
The seven-day compounded yield fell to 0.32 percent from 0.34 percent the previous week, and the 30-day compounded yield fell to 0.36 percent from 0.39 percent, Money Fund Report said.
The average maturity of the portfolios held by money funds was 49 days, the same as the previous week, said Money Fund.
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 earlier at 0.50 percent as of Wednesday.
The North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking accounts rose to 0.16 percent from 0.15 percent.
Bankrate.com said the annual percentage yield was 1.19 percent on six-month certificates of deposit, down from 1.20 percent the previous week. Yields were 1.43 percent on 1-year CDs, down from 1.49 percent; 1.55 percent on 2 1/2-year CDs, down from 1.60 percent; and 2.30 percent on 5-year CDs, down from 2.31 percent.


Updated : 2021-10-17 20:30 GMT+08:00