Total money market mutual fund assets rose $8.26 billion to $2.744 trillion for the week, the Investment Company Institute said Thursday.
Assets of the nation's retail money market mutual funds fell $3.16 billion in the latest week to $922.66 billion.
Assets of taxable money market funds in the retail category fell $4.18 billion to $719.75 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Tax-exempt fund assets fell by $1.02 billion to $202.91 billion.
Assets of institutional money market funds rose $11.42 billion to $1.821 trillion for the same period. Among institutional funds, taxable money market fund assets rose $11.84 billion to $1.706 trillion; assets of tax-exempt funds fell $410 million to $115.62 billion.
The seven-day average yield on taxable money market mutual funds in the week ended Tuesday fell to 0.02 percent from 0.03 percent in the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield remained at 0.03 percent, according to Money Fund Report.
The seven-day compounded yield fell to 0.02 percent from 0.03 percent in the previous week, while the 30-day compounded yield stayed at 0.03 percent, Money Fund Report said. The average maturity of the portfolios held by money funds remained at 45 days.
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 remained unchanged from the week before, as of Wednesday, at 0.18 percent.
The North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking remained unchanged from the week before at 0.08 percent.
Bankrate.com said the annual percentage yield on six-month certificates of deposit remained unchanged at 0.29 percent. Yields on one-year CDs were unchanged at 0.47 percent; remained unchanged at 0.74 percent on 2 1/2-year CDs; and were unchanged at 1.71 percent on five-year CDs.