Money Market Mutual Fund Assets Drop to $3.573T

Total assets of money market mutual funds dropped by $625 million to $3.573 trillion for the week ending Aug. 27, according to the Investment Company Institute.Assets of retail money market funds fell $4.90 billion to $1.234 trillion, taxable money market fund assets fell $2.75 billion to $928.49 billion, and tax-exempt fund assets fell by $2.16 billion to $305.29 billion.Institutional money market fund assets increased by $4.28 billion to $2.339 trillion, taxable money market fund assets rose by $8.50 billion to $2.135 trillion, and tax-exempt fund assets fell $4.22 billion to $203.90 billion.