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.