NEW YORK (AP) -- Total U.S. money market mutual fund assets rose $8 billion to $2.713 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds fell $110 million to $922.6 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $680 million to $727.6 billion. Tax-exempt retail fund assets fell $790 million to $195 billion.
Assets in institutional money market funds rose $8.11 billion to $1.79 trillion. Among institutional funds, taxable money market fund assets increased $9.1 billion to $1.72 trillion. Assets of tax-exempt funds fell $990 million to $74.58 billion.
The seven-day average yield on money market mutual funds was unchanged at 0.01 percent from the previous week, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass. The seven-day compounded yield was flat at 0.01 percent.
The 30-day yield and the 30-day compounded yield were both unchanged at 0.01 percent, Money Fund Report said Wednesday.
The average maturity of portfolios held by money market mutual funds rose to 48 days from 47 days the prior week.
The online service Bankrate.com said its survey of 100 leading commercial banks, savings and loan associations and savings banks in the nation's 10 largest markets showed the annual percentage yield available on money market accounts was unchanged from the week before at 0.11 percent.
The North Palm Beach, Fla.-based unit of Bankrate Inc. said Wednesday that the annual percentage yield available on interest-bearing checking accounts remained steady at 0.05 percent.
Bankrate.com said the annual percentage yield on six-month certificates of deposit was unchanged from a week ago at 0.15 percent. One-year CD yields were also flat at 0.23 percent, and the yield on two-year CDs edged up to 0.37 percent from 0.36 percent. The five-year yield rose to 0.81 percent from 0.80 percent.