Assets in the nation's money market mutual funds fell 1.2% to $971.96 billion during the week ended Wednesday, according to the Investment Company Institute.

Retail money market funds lost $4.44 billion, ending the week with $655.19 billion in assets. Assets of 402 taxable money market funds in the retail sector dropped $2.27 billion to $536.05 billion, while the 263 tax- exempt funds' assets decreased by $2.17 billion to $119.14 billion.

Assets in institutional money market funds fell $8.15 billion, ending the week at $316.77 billion, the trade group said. Assets in the 260 taxable institutional funds were off by $5.21 billion, to $285.42 billion. The 63 tax-exempt funds decreased by $2.93 billion, to $31.36 billion.

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