Short Takes: Money Fund Assets Dip from Record High

The Investment Company Institute reported that money market mutual assets retreated from a record high in the week that ended April 19, declining 0.3% to $657.66 billion.

A $2 billion outflow from institutional funds accounted from most of the decline. Assets of these funds fell to $191.19 billion.

That includes $168.37 billion in taxable funds, off $566.7 million in the week, and $22.82 billion in tax-exempt funds, a $1.43 billion drop.

On the retail side, money market assets fell $239.7 million, to $466.47 billion. Taxable funds took in $1.16 billion to close the week at $370.79 billion. But these gains were offset by a $1.4 billion outflow from tax- exempt funds, which held $95.68 billion.

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