July 17, 2019 / 7:37 PM / 4 months ago

UPDATE 1-U.S. money fund assets fall from 9-1/2-year peak -iMoneyNet

(Adds analyst comment, yield figures, graphic)

NEW YORK, July 17 (Reuters) - U.S. money market fund assets retreated from their highest level in more than 9-1/2 years as their yields tumbled in the latest week, the Money Fund Report said on Wednesday.

Total assets decreased by $23.11 billion to $3.211 trillion in the week ended July 16. Fund assets recorded their first weekly decline in nearly three months, according to the report, published by iMoneyNet.

The near risk-free 2% yield offered taxable money funds until the latest week had appealed to investors worried about the trade disputes and those who view current prices on stocks and other risky assets as over-stretched, analysts said.

Taxable money fund assets in the latest week fell from their highest level since Aug. 11, 2009. They were down $22.64 billion at $3.072 trillion.

Tax-free fund assets declined by $470.70 million to $138.93 billion.

The iMoneyNet average seven-day simple yield for taxable money funds slipped to 1.97% from 2.02% a week earlier. The weighted average maturity among taxable funds increased one day to 30 days.

The iMoneyNet average seven-day yield for tax-free and municipal funds tumbled to 0.86%, the lowest level since last August, from the prior week's 1.15%. The weighted average maturity of tax-free funds lengthened by one day to 29 days.

Reporting by Richard Leong; Editing by Will Dunham

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