Tags: US | Money | Funds

Money Fund Assets Fall to $2.964 Trillion in Latest Week

Friday, 09 Apr 2010 12:45 PM

 

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  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 This material may not be published, broadcast, rewritten or redistributed.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  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

Va. GOP Can't See End to Medicaid Standoff, Fears Loss of Bond Rating

Wednesday, 16 Apr 2014 15:17 PM

If leading Virginia Republicans are right, the battle over Medicaid expansion could leave the state wounded. Virginia Ho . . .

Bridge-gate Legal Fees Running Up to $340 an Hour for NJ Taxpayers

Wednesday, 16 Apr 2014 14:27 PM

New Jersey taxpayers are shelling out as much as $340 an hour for lawyers to represent five present or former staffers o . . .

Art Critic: Bush a Better Artist Than Thomas Kinkade

Wednesday, 16 Apr 2014 14:17 PM

Late "painter of light" Thomas Kinkade was a better technical painter than former President George W. Bush, says art cri . . .

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