Total assets of money market mutual funds fell by $5.51 billion to $3.515 trillion for the week ending June 11, according to the Investment Company Institute.

Retail money market mutual fund assets fell by $4.88 billion to $1.222 trillion.

Taxable money market fund assets in the retail category fell by $3.43 billion to $916.82 billion, while tax-exempt fund assets fell by $1.44 billion to $305.08 billion.

Institutional money market fund assets fell by $630 million to $2.293 trillion, while taxable institutional money market fund assets fell by $426 million to $2.092 trillion and assets of tax-exempt funds fell by $204 million to $201.02 billion.

According to iMoneyNet Inc.’s Money Fund Report, the seven-day average yield on money market mutual fund assets fell from 1.94% the previous week to 1.87% for the week ending June 10. The 30-day average yield fell from 1.93% to 1.92%.

The seven-day compounded yield fell from 1.96% to 1.89% and the 30-day compounded yield fell from 1.95% to 1.94%.

The average maturity of the portfolios held by money funds was at 45 days, up from 44.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.