Institutions continued to seek safety in money market mutual funds in the latest week, and total assets of the funds grew by $27.13 billion to reach $3.922 trillion for the week ending Jan. 13, according to the
Retail money market mutual fund assets fell by $4.07 billion to $1.364 trillion. Among retail funds, taxable assets fell $1.68 billion to $1.059 trillion and tax-exempt assets fell $2.39 billion to $304.79 billion.
Institutional money market fund assets continued to climb, rising by $31.2 billion to $2.558 trillion. Among institutional funds, taxable assets rose $31.3 billion to $2.364 trillion, while tax-exempt assets fell $96 million to $194.11 billion.
The seven-day average yield for money market mutual funds fell from 0.70% to 0.60% for the week ending Jan. 12, according to
The seven-day compounded yield also fell from 0.70% to 0.61%, and the 30-day compounded yield fell from 0.80% to 0.73%.
The average maturity of money fund portfolios was 48 days, up from 46.
