Money market mutual fund assets rose $13.55 billion to $3.189 trillion for the week ending Jan. 16, according to the Investment Company Institute.

Retail money market mutual fund assets rose $11.84 billion to $1.184 trillion, and assets of taxable money market funds rose $10.73 billion to $893.79 billion.

Tax-exempt fund assets rose by $1.11 billion to $2.90.47 billion.

The seven-day average yield on money market mutual funds fell 3.96% from 3.99%, according to Money Fund Report, a service of iMoneyNet Inc. The 30-day average yield fell to 3.98% from 4.01%.

“This week, more than any that we've seen since yields started to move south last summer, showed the biggest one-week change,” said Greg McBride, a senior financial analyst at “The outlook is for yields to continue moving lower in the coming months.”

The seven-day compounded yield fell from 4.07% to 4.04%, and the 30-day compounded yield fell from 4.09% the previous week to 4.06%.

Assets of institutional money market funds rose $1.72 billion to $2.005 trillion.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.