Money Fund Assets Fall $21.35 Billion to $3.559 Trillion

Assets in money market funds fell $21.35 billion to $3.559 trillion in the week ended Aug. 26, the Investment Company Institute said.

Retail money market funds lost $4.96 billion to end the week at $1.163 trillion, and institutional funds gave up $16.38 billion of assets to end at $2.396 trillion.

In the retail category, taxable money market funds fell by $4.12 billion to $908.46 billion, and tax-exempt funds saw $850 million in net redemptions, to end at $254.18 billion.

Among institutional funds, taxable funds fell by $16.21 billion to $2.211 trillion, and tax-exempt funds lost $170 million to $185.53 billion.

The seven-day average yield on money market mutual funds remained unchanged from the week before at 0.06%, according to iMoneyNet. Also unchanged was the 30-day average yield, 0.07%. The seven-day and the 30-day compound yield also remained static at 0.06% and 0.07%, respectively.