Total money market mutual fund assets dropped by $1.87 billion to $2.593 trillion for the week ended Wednesday, April 24, according to the Investment Company Institute.

Assets of retail money market funds decreased by $5.49 billion to $897.96 billion. Taxable government money market fund assets in the retail category decreased by $60 million to $193.41 billion, taxable non-government money market fund assets decreased by $2.10 billion to $515.94 billion, and tax-exempt fund assets decreased by $3.33 billion to $188.61 billion.

However, investors pumped a total of $3.62 billion into institutional money market funds, led by taxable government money market funds ($5.38 billion) and taxable non-government money market funds ($560 million).

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