Money Market Fund Assets Rise $13.9 Billion in W/E July 15
July 18, 2008
Money market mutual funds added $13.90 billion in assets for the week ending July 15, bringing total net assets to $3.468 trillion, according to iMoneyNet Inc.’s Money Fund Report.
Individual investors contributed $8.42 billion, while institutions contributed $5.48 billion.
Taxable money fund assets rose $15.22 billion to $2.954 trillion.
The seven-day average simple yield for taxable funds fell from 1.89% to 1.84%, and the seven-day compound yield fell from 1.91% to 1.86%. Taxable, 30-day simple yields held fast at 1.87%, while 30-day compound yields dropped from 1.89% to 1.88%.
The seven-day average simple yield for nontaxable funds fell from 1.08% to 1.00%, and the seven-day compound yield also fell, from 1.09% to 1.00%. Nontaxable, 30-day simple yields fell from 1.26% to 1.19%, while 30-day compound yields dropped from 1.27% to 1.20%.
For more information on related topics, visit the following:
