Total assets of money market mutual funds climbed $4.36 billion to reach $3.668 trillion for the week ending July 8, according to the Investment Company Institute.

Institutional funds led the gains by climbing $6.08 billion to reach $2.45 trillion. Among institutional funds, taxable money fund assets rose $5.41 billion to $2.263 trillion, while tax-exempt assets rose by $667 million to $187.13 billion.

Total assets of retail funds fell $1.71 billion to $1.218 trillion during the same week. Among retail funds, taxable money fund assets fell $2.877 billion to $951.28 billion, while tax-exempt assets rose $1.16 billion to $266.6 billion.

The seven-day average yield on money funds rose from 0.11% to 0.12% during the week ended July 7, according to iMoneyNet Inc.'s Money Fund Report. The 30-day average yield fell from 0.13% to 0.12%.

The seven-day compounded yield mirrored the average yield, rising from 0.11% to 0.12%, as did the 30-day compounded yield, falling from 0.13% to 0.12%.

The average maturity of money fund portfolios was up from 50 days to 51 days, the report said.

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