The Investment Company Institutes weekly look at money market fund assets showed a slight drop, from $1.982 trillion on Wednesday, August 4, to $1.976 trillion on Wednesday, August 11. The decrease of $5.94 billion was due mostly to institutional money market funds losses, which tallied $4.77 billion.
Retail money market funds dipped $1.17 billion to $849.98 billion, with taxable assets dropping $366.3 million to $657.23 billion, according to the mutual fund industrys lobbying group.
Between the weeks of July 21, and July 28, money market fund assets dropped from $1.987 billion to $1.977 billion. However, they did move back up to $1.982 billion last week before hitting their four-week low of $1.976 billion this week.