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You are here:  Home / Business News / Investors add to money market funds

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Investors add to money market funds

Published: Dec. 30, 2004 at 11:39 AM
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WASHINGTON, Dec. 30 (UPI) -- The Money Fund Report shows U.S. investors added $2.29 billion to money-market funds during the week ended Tuesday.

The additional funds brought the total net assets to $1.917 trillion.

The Money Fund said institutional investors added $6.19 billion, while individual investors pulled out $3.9 billion.

Assets in taxable money funds rose $3 billion to $1.6 trillion. Institutional investors put in $5.58 billion, and retail investors pulled out $2.58 billion.

The average seven-day simple yield for taxable funds rose to 1.60 percent from 1.58 percent. The average seven-day compound yield, which assumes reinvestment of dividends, rose to 1.62 percent from 1.59 percent. Thirty-day simple yields rose to 1.52 percent from 1.47 percent last week, while 30-day compound yields jumped to 1.53 percent from 1.48 percent.

The Money Fund said the average maturity of investments in taxable funds, which include commercial paper and Treasury bills, fell to 39 days from 40 days.



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