Money market funds are yielding almost nothing
Economy • 8/14/09 11:40:07 pm • Views: 299
By John Waggoner, USA TODAY
Money isn’t everything, at least to investors in money market funds. Yields are at all-time lows, and nearly a quarter of funds yield nothing at all.
The average money fund yielded an annualized 0.08% the week ended Aug. 4, the latest data from iMoneyNet, which tracks funds, show. At that rate, a $10,000 investment would return 15 cents a week. But 275 taxable funds have no yield, 23% of the 1,180 funds iMoneyNet tracks. Most retail funds, which are sold directly to the public, reported below-average yields.
