Total assets for money market mutual funds rose by $4.39 billion to $3.122 trillion in the latest week, according to the Investment Company Institute.
The nation’s retail money market mutual funds saw assets rise by $1.53 billion to $1.142 trillion.
Taxable money market funds in the retail category saw assets rise by $243 million to $867.79 billion for the week.
Institutional money market funds saw assets rise by $2.87 billion to $1.981 trillion for the same period. Taxable institutional money market fund assets fell by $1.45 billion, while assets of tax-exempt funds rose by $4.31 billion to $189.4 billion.
The average maturity of portfolios held by money market funds remained at 41 days, according to Money Fund Report.
The seven-day compounded yield rose from 4.18% to 4.24%, and the 30-day compounded yield fell from 4.27% to 4.26%.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.