Tags: US | Money | Funds

Money Fund Assets Fall to $2.964 Trillion in Latest Week

Friday, 09 Apr 2010 12:45 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Total money market mutual fund assets fell by $18.49 billion to $2.964 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell by $3.53 billion in the latest week to $1.012 trillion.

Assets of taxable money market funds in the retail category fell by $4.39 billion to $790.31 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets rose by $860 million to $221.37 billion.

Assets of institutional money market funds fell by $14.96 billion to $1.953 trillion for the same period. Among institutional funds, taxable money market fund assets fell by $18.03 billion to $1.806 trillion; assets of institutional tax-exempt funds rose by $3.07 billion to $146.66 billion.

The seven-day average yield on money market mutual funds was unchanged in the week ended Tuesday 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 43 days, down from 44 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 was flat at 0.22 percent as of Wednesday.

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, unchanged from 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 2.14 percent on 5-year CDs, up from 2.13 percent.

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 This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Ferguson Prosecutor: Some Witnesses Were 'Not Telling the Truth'

Friday, 19 Dec 2014 22:48 PM

Some witnesses who appeared before the grand jury investigating the death of unarmed black teenager Michael Brown were " . . .

Judge Dismisses Suit on Oklahoma Execution Access

Friday, 19 Dec 2014 22:40 PM

A federal judge on Friday dismissed a lawsuit filed by media organizations seeking greater access to the execution of Ok . . .

GOP Lawmakers Write Obama on Power Plant Pollution Regulations

Friday, 19 Dec 2014 22:06 PM

Ninety-six Republican lawmakers have signed a letter urging President Barack Obama to drop the Environmental Protection  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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