January 16, 2008 / 7:55 PM / 12 years ago

US taxable money market fund assets rise to record

NEW YORK, Jan 16 (Reuters) - U.S. money market taxable mutual fund assets rose $13.5 billion in the latest week to a record $2.68 trillion, the Money Fund Report said on Wednesday.

Tax-free funds gained $2.47 billion to settle at a record $483 billion, according to Money Fund Report, a service of iMoneyNet of Westborough, Mass.

The average yield for taxable money funds fell 3 basis points to 3.96 percent, while tax-free yields fell 11 basis points to 2.58 percent. (Reporting by Anastasija Johnson; Editing by Dan Grebler)

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