Money fund assets rise to $2.639 trillion

Assets of the nation’s retail money market mutual funds rose $5.73 billion to $942 billion, the Washington-based mutual fund trade group said. Assets of taxable money market funds in the retail category rose $3.86 billion to $748.84 billion. Tax-exempt retail fund assets rose $1.88 billion to $193.16 billion.

Meanwhile, assets of institutional money market funds fell $860 million to $1.697 trillion. Among institutional funds, taxable money market fund assets fell $2.2 billion to $1.600 trillion; assets of tax-exempt funds rose $1.34 billion to $97.68 billion.

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

The seven-day compounded yield was flat at 0.02 percent, as was the 30-day compounded yield at 0.02 percent, Money Fund Report said.

The average maturity of the portfolios held by money market mutual funds rose to 40 days from 39 days last week.

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 at 0.15 percent in the week that ended Wednesday, unchanged from the previous week.

The North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking was 0.07 percent, up from 0.06 percent the week before.

Bankrate.com said the annual percentage yield on six-month certificates of deposit fell to 0.23 percent from 0.24 percent last week. Yields fell to 0.37 percent from 0.38 percent on one-year CDs, down to 0.58 percent from 0.59 percent on 2 1/2-year CDs; and down to 1.22 percent from 1.26 percent on five-year CDs.