Money market mutual funds assets fell 0.65% to $641.27 in the week that ended Feb. 15, the Investment Company Institute reported.

The $4.21 billion decline reflected a drop in assets in both institutional and retail money market funds.

Assets of money funds for retail investors slipped by $1.87 billion to $454.93 billion. That total includes $359.74 billion in taxable funds, down $1.07 billion, and $95.19 billion in tax-exempt funds, a $796.6 million dip.

On the institutional side, assets plummeted by $2.34 billion to $186.34 billion. Taxable funds held $162.95 billion, down $1.89 billion for the week. Tax-exempt funds shed $446.9 million to close at $23.39 billion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.