Total assets of money market mutual funds rose $34.48 billion during the week ending Dec. 10, to settle at $3.777 trillion, according to the Investment Company Institute.
Retail money market mutual fund assets fell by $1.04 billion to $1.282 trillion. Among retail funds, taxable money market fund assets rose by $907 million to $983.67 billion, while tax-exempt fund assets fell $1.95 billion to $298.42 billion.
Institutional money market fund assets rose by $35.53 billion to $2.495 trillion. Among those funds, taxable money fund assets rose $37.49 billion to $2.309 trillion, while tax-exempt fund assets fell $1.96 billion to $186.53 billion.
The seven-day average yield for money market mutual funds fell from 1.04% to 0.94% during the week ending Dec. 9, according to iMoneyNets Money Fund Report. The 30-day average yield fell from 1.17% to 1.09%.
The seven-day compounded yield also fell from 1.05% to 0.95%, while the 30-day compounded yield fell from 1.18% to 1.09%.
The average maturity of money fund portfolios rose from 45 days to 48 days.