Total money market mutual fund assets dropped by $11.64 billion to $2.564 trillion for the week ended Wednesday, October 3, according to the Investment Company Institute.
Taxable government funds fell by $10.26 billion, taxable non-government funds decreased by $4.62 billion, and tax-exempt funds increased by $3.25 billion.
On the retail front, money market funds’ assets increased by $2.49 billion to $889.81 billion. However, assets of institutional money market funds fell by $14.13 billion to $1.674 trillion. Among institutional funds, taxable government money market fund assets decreased by $9.77 billion to $674.17 billion, taxable non-government money market fund assets decreased by $5.77 billion to $918.09 billion, and tax-exempt fund assets increased by $1.42 billion to $82.05 billion.