Retail money fund assets fall by $1.9B

Total money market mutual fund assets rose by $2.59 billion to $3.272 trillion for the week, the Investment Company Institute said Thursday.
DEC 18, 2009
Total money market mutual fund assets rose by $2.59 billion to $3.272 trillion for the week, the Investment Company Institute said this week. Assets of the nation's retail money market mutual funds fell by $1.91 billion in the latest week to $1.071 trillion. Assets of taxable money market funds in the retail category fell by $1.72 billion to $865.64 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Retail tax-exempt fund assets fell by $190 million to $235.53 billion. Assets of institutional money market funds rose by $4.49 billion to $2.201 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $6.67 billion to $2.038 trillion; assets of institutional tax-exempt funds fell by $2.17 billion to $162.48 billion. The seven-day average yield on money market mutual funds in the week ended Tuesday was unchanged from the previous week at 0.03 percent, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield was also flat at 0.03 percent, according to Money Fund Report. The seven-day compounded yield was 0.03 percent, unchanged from the previous week, and the 30-day compounded yield stayed at 0.03 percent, Money Fund Report said. The average maturity of the portfolios held by money funds was 49 days, down from 50 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 unchanged at 0.24 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 rose to 0.13 percent from 0.12 percent. Bankrate.com said the annual percentage yield was 0.51 percent on six-month certificates of deposit, unchanged from the previous week. Yields were flat at 0.82 percent on 1-year CDs; 1.24 percent on 2 1/2-year CDs, down from 1.26 percent; and 2.10 percent on 5-year CDs, up from 2.08 percent.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.