Total money market mutual fund assets decreased by $15.49 billion to $2.622 trillion for the week ended Wednesday, March 21, according to the Investment Company Institute. Taxable government funds decreased by $5.33 billion, taxable non-government funds decreased by $9.51 billion, and tax-exempt funds decreased by $650 million.
On the retail front, assets of retail money market funds increased by $1.81 billion to $914.46 billion. Taxable government money market fund assets in the retail category increased by $430 million to $190.03 billion, taxable non-government money market fund assets increased by $450 million to $529.99 billion, and tax-exempt fund assets increased by $930 million to $194.44 billion.
Assets of institutional money market funds dropped by $17.30 billion to $1.708 trillion. Among institutional funds, taxable government money market fund assets decreased by $5.76 billion to $695.95 billion, taxable non-government money market fund assets decreased by $9.96 billion to $919.29 billion, and tax-exempt fund assets decreased by $1.58 billion to $92.38 billion.
Hung Tran writes for Money Management Executive.