Investors continued to rush to the safety of cash this week, putting an additional $29.06 billion in money market mutual funds, for a total of $3.743 trillion, according to the Investment Company Institute.

The nation’s retail money market mutual fund assets rose by $6.73 billion to $1.283 trillion for the week ending Dec. 3, while assets of taxable retail money market funds rose by $4.58 billion to $982.77 billion. Tax-exempt fund assets gained $2.15 billion to settle at $300.37 for the week.

Institutional money market fund assets rose by $22.34 billion to $2.46 trillion. Of those, taxable fund assets rose by $19.11 billion to $2.271 trillion and tax-exempt assets rose by $3.22 billion to $188.5 billion.

The seven-day average yield for money market funds fell from 1.12% to 1.04% during the week ending Dec. 2, according to iMoneyNet Inc.’s Money Fund Report. The 30-day average yield fell from 1.27% to 1.17%.

The seven-day compounded yield also fell from 1.12% to 1.05%, and the 30-day compounded yield fell from 1.28% to 1.18%.

The average maturity of money fund portfolios was 45 days, down from 46 days.

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