Tags: US | Money | Funds

Money-Fund Assets Fall by $4.24 Billion in Week

Friday, 26 Mar 2010 08:10 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Total money market mutual fund assets fell by $4.24 billion to $3.013 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $4.57 billion in the latest week to $1.023 trillion.

Assets of taxable money market funds in the retail category fell by $2.99 billion to $800.63 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets fell by $1.58 billion to $222.57 billion.

Assets of institutional money market funds rose by $330 million to $1.99 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $1.86 billion to $1.846 trillion; assets of institutional tax-exempt funds fell by $1.53 billion to $144.42 billion.

The seven-day average yield on money market mutual funds was unchanged in the week ended Tuesday to at 0.02 percent, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield was also flat at 0.02 percent, according to Money Fund Report.

The seven-day compounded yield and the 30-day compounded yield were unchanged from the previous week at 0.02 percent, Money Fund Report said.

The average maturity of the portfolios held by money funds was 46 days, down from 47 days, said Money Fund.

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 fell to 0.22 percent as of Wednesday from 0.23 percent week earlier.

The North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking accounts was unchanged at 0.13 percent.

Bankrate.com said the annual percentage yield was 0.44 percent on six-month certificates of deposit, down from 0.45 percent the previous week. Yields were 0.72 percent on 1-year CDs, unchanged; flat at 1.11 percent on 2 1/2-year CDs; and unchanged at 2.12 percent on 5-year CDs.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

1888 Shipwreck Found Near Golden Gate Bridge

Wednesday, 23 Apr 2014 19:33 PM

The wreckage of a passenger steamship that sank in the 19th century after a collision in the San Francisco Bay has been  . . .

HBO Strikes Deal with Amazon to Stream Shows

Wednesday, 23 Apr 2014 13:53 PM

Amazon will begin streaming some HBO shows to its premium customers next month, the companies said on Wednesday, in a mo . . .

Scientists Locate Shipwreck in San Francisco Bay

Wednesday, 23 Apr 2014 12:13 PM

Federal ocean scientists have found the wreckage of a steamship that sunk in San Francisco Bay in 1888, a disaster that  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved