U.S. money market fund assets increased nearly 1.2% this week from a week earlier, to a record $3.805 trillion, according to a report released Wednesday by Informa PLC's iMoneyNet.

The Money Fund Report said taxable money market fund assets rose 1.2%, to a record $3.305 trillion, while tax-free assets increased 1.7%, to $500 billion.

Taxable money market fund yields fell 6 basis points to 0.7%, while tax-free yields dropped 16 basis points, to 0.71%.

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