Assets in U.S. money market funds fell off last week by $3.25 billion, settling at $733.47 billion.
In recent months, assets have slowly poured into both retail and institutional money market funds. But during the week ending Sept. 20, assets in both fund categories fell off.
Retail funds lost $761.6 million in assets, settling at $516 billion by week's end, according to data provided by the Investment Company Institute, a Washington-based mutual fund trade organization. Tax-free retail funds lost $971 million during the week. But taxable retail funds gained assets.
Institutional portfolios lost $2.49 billion during the week, to settle at $217.43 billion. Taxable institutional funds lost $1.79 billion and tax- free funds fell by $698.5 million.