Newspaper article THE JOURNAL RECORD

Mutual Fund Assets Fall by $1.28 Billion

Newspaper article THE JOURNAL RECORD

Mutual Fund Assets Fall by $1.28 Billion

Article excerpt

NEW YORK (AP) _ Assets of the nation's 552 money market mutual funds fell by $1.28 billion in the latest week, the Investment Company Institute said Thursday.

The decline, to $458.72 billion in the seven-day period ended Wednesday, followed a $5.1 billion rise in assets the previous week, the Washington-based mutual fund trade group said.

Fund assets hit an all time high of $475.53 billion in the week ended April 10 1991.

The Investment Company Institute said that in the latest week, assets of 259 general purpose funds fell $723.4 million to $177.42 billion, assets of 90 broker-dealer funds fell $733.7 million to $149.03 billion, and assets of 203 institutional funds rose $180.5 million to $132.27 billion.

The seven-day average yield on money market mutual funds fell in the week ended Tuesday to 5.46 percent from 5.47 percent the previous week, said Donoghue's Money Fund Report, a trade journal based in Holliston, Mass.

The 30-day average yield fell to 5. …

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