Money market mutual fund assets slid 0.3%, to $785.55 billion, in the week ended Jan. 17, the Investment Company Institute reported.

The decline followed a huge surge the previous week, which resulted in part from a blizzard on the East Coast that slowed transfers of money.

For the latest period, the institute said retail money market assets fell $1.8 billion, to $545.99 billion. That includes $438.83 billion in taxable funds, down $1.32 billion, and $107.15 billion in tax-exempt funds, off $477.7 million.

On the institutional side, money market assets declined $850 million, to $239.56 billion. Taxable funds held $211.97 billion of the total, down $1.19 billion in the week. Tax-exempt fund balances rose $336 million, to $27.59 billion.

The institute, a Washington-based trade group for the mutual fund industry, bases its weekly report on a survey of nearly 1,000 money market funds.

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