Total money market mutual fund assets fell again last week by $3.82 billion to $3.111 trillion, according to the
Assets of retail money market mutual funds rose by $7.71 billion to $1.155 trillion, while assets of taxable money market funds in the retail category rose by $5.10 billion to $875.89 billion. Tax-exempt fund assets rose by $2.61 billion to $279.46 billion.
The seven-day compounded yield fell from 4.16% to 4.07% and the 30-day compounded yield fell from 4.23% to 4.18%.
Money Fund said the average maturity of portfolios held by mutual funds was unchanged at 40 days.
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Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
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The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
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The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
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But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
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The accusations led to the end of 16 years at the firm.
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In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
July 15