Assets of money market mutual funds slipped 0.2%, to $650.69 billion, in the week that ended March 15, the Investment Company Institute reported.

The decline hit all categories of assets: taxable and tax-exempt funds for retail and institutional investors.

On the retail side, money market fund assets fell to $460.03 billion, down $648.6 million in the week.

Taxable retail funds held $364.01 billion, a $116.6 million decline, while tax-exempt portfolios held $96.02 billion, down $532 million.

Assets of institutional funds slipped $914.4 million, to $190.65 billion.

That includes $166.66 billion of taxable institutional funds, off $470.2 million, and $24 billion of tax-exempt funds, down $444.2 million.

The institute, Washington-based trade group for the mutual fund industry, bases its report on a survey of 974 money market funds.

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