Money funds netted $12.2 billion in the week ended April 8, the Investment CompanyInstitute announced. Total assets in money market funds reached $3.846 trillion.
Retail money market funds lost $5.08 billion, falling to $1.335 trillion. Taxable retail money market funds lost $4.76 billion, ending at $1.049 trillion. Tax-exempt money market fund assets fell by $320 million to $285.65.
Flows were driven by institutional money market funds, which rose by $17.28 billion to $2.511 trillion. In this category, taxable funds netted $15.73 billion in inflows, for a total of $2.317 trillion in assets, while tax-exempt fund assets rose by $1.55 billion to $194.14 billion.