Total money market mutual fund assets dropped by $16.70 billion to $2.646 trillion for the week ended Wednesday, March 6, according to the Investment Company Institute.
Taxable government funds decreased by $11.85 billion, taxable non-government funds decreased by $4.87 billion, and tax-exempt funds increased by $10 million.
On the retail front, assets of retail money market funds increased by $470 million to $912.96 billion. Taxable government money market fund assets in the retail category decreased by $390 million to $195.42 billion, taxable non-government money market fund assets increased by $640 million to $520.44 billion, and tax-exempt fund assets increased by $220 million to $197.10 billion.
Assets of institutional money market funds also dropped by $17.17 billion to $1.733 trillion. Among institutional funds, taxable government money market fund assets decreased by $11.46 billion to $705.09 billion, taxable non-government money market fund assets decreased by $5.51 billion to $946.41 billion, and tax-exempt fund assets decreased by $200 million to $81.82 billion.