Total money market mutual fund assets rose $32.09 billion to $3.56 trillion for the week ending Aug. 6, according to the Investment Company Institute.
Retail money market mutual fund assets rose by $3.35 billion to $1.244 trillion, while taxable money market fund assets in the retail category fell by $913 million to $936.73 billion. Assets of tax-exempt funds rose by $4.26 billion to $306.91 billion.
Institutional money market fund assets rose by $28.74 billion to $2.317 trillion during the same period, while taxable money market fund assets rose by $16.05 billion to $2.108 trillion and tax-exempt fund assets rose by $12.69 billion to $209.32 billion.
The seven-day average yield on money market mutual funds rose from 1.86% to 1.87% for the week ending Aug. 5, while the 30-day average yield held steady at 1.86%, according to iMoneyNets Money Fund Report.
The seven-day compounded yield rose from 1.88% to 1.89%, while the 30-day compounded yield fell from 1.88% to 1.87%.
The average maturity of money fund portfolios was unchanged at 44 days.