Assets of money market mutual funds fell 0.156%, to $1.2759 trillion, in the week that ended Sept. 23, the Investment Company Institute reported.
The decline was concentrated in funds for retail investors. Assets of these funds fell 0.650%, to $776.98 billion. That includes $639.60 billion in taxable funds, down $2.89 billion, and $137.38 billion in tax-exempt funds, down $2.19 billion.
On the institutional side assets rose 0.619%, to $498.96 billion. But while balances of taxable portfolios climbed $3.22 billion, to $454.41 billion, assets of tax-exempt funds declined $133 million, to $44.56 billion.
The institute, a Washington-based trade group for mutual fund companies, surveys more than 1,000 money market funds each week.