Money Funds Drop $15 Billion
January 18, 2013
Mutual funds overall may have enjoyed a hot week of flows. But not so for money market mutual funds, which lost assets across all categories the week ended Jan. 16, the Investment Company Institute reported today.
Money market mutual fund assets fell to $2.7 trillion, a decrease of $15.19 billion from the week prior.
Overall, taxable government funds decreased by $5.73 billion, while taxable non-government funds decreased by $6.4 billion. Tax-exempt funds decreased by $3.07 billion.
Retail money market funds decreased by $9.46 billion to $931.49 billion, while institutional money market funds also fell by $5.73 billion to $1.77 trillion.