In the week ended Tuesday, investors withdrew $11.34 billion from money market mutual funds, according to data from iMoneyNet.com.
Both institutional and retail investors withdrew money, $5.11 billion and $6.23 billion, respectively.
Assets in taxable funds declined $5.06 billion even though the seven-day simple yield for such funds inched up to 1.88% from 1.86%. As well, tax-free funds lost $6.28 billion.
The total assets in taxable funds stood at $2.992 trillion, while those of tax-free funds fell to $514.28 billion.